Einhorn's Greenlight Capital Moves Gold Holdings Into Bullion From ETFs (GLD)
According to reports from Bloomberg, David Einhorn's Greenlight Capital hedge fund switched its gold holdings from ETF SPDR Gold Shares (NYSE: GLD) into bullion in the second quarter. Einhorn said it is cheaper to keep the gold in a storage facility than the fees paid for the ETF. Einhorn has been buying gold due to concerns about inflation.
Greenlight Capital gained 16.3% in the second quarter, bringing its YTD return to 21.5%. Last year, the fund lost 23%.
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