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Category: Gold

What happens when an ETF gets too big for its index? This is not a hypothetical question. Last month it was reported that the Junior Gold Miners ETF (GDXJ) had amassed $5.4 billion in assets, a level too large for its index. In order to avoid exceeding 20% ownership in a few of its holdings […]

  • Posted in Equities, Gold, Markets
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What Happens When Gold is Oversold?

“Don’t gain the world and lose your soul; wisdom is better than silver or gold.” – Bob Marley There is no asset in the world that generates as much love and hate as Gold. There is not a day that goes by without a multitude of extreme predictions on where the yellow metal is going. […]

  • Posted in Gold, Markets
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What is Gold?

“On a final note, what was the one asset you did not want to own when I started Duquesne in 1981? Hint … it has traded for 5000 years and for the first time has a positive carry in many parts of the globe as bankers are now experimenting with the absurd notion of negative […]