Stan Druckenmiller, the billionaire investor with one of the best long-term track records in money management, said he bought gold in late December and January, reversing the sale he made after the U.S. presidential election.
"I wanted to own some currency and no country wants its currency to strengthen," Druckenmiller said Tuesday in an interview. "Gold was down a lot, so I bought it."
Druckenmiller, who had held a gold position going into the November election, sold it on Election Night, explaining in a CNBC interview that he was optimistic that President Donald Trump's administration would bring deregulation and "serious" tax reform that spurs growth. Those benefits, he said, were expected to outweigh concerns about more protectionist trade policies. "All the reasons I owned it for the last couple of years seem to be ending," he said at the time.
... For the remainder of the report:
https://www.bloomberg.com/news/articles/2017-...ller-bought-...
