Steven Leuthold is Buying Gold

By on December 17, 2009

The Wall Street Journal via Commodity Trade Alert reports that several mutual funds have begun buying gold to protect their investors from a currency devaluation.

Amongst these new gold bulls is Steve Leuthold. “I didn’t own gold before, but when I heard Washington talking about a new economic stimulus, I changed my mind,” said the head of Leuthold Core Investment fund, which began buying bullion three months ago. Gold now makes up 2% of the $1.4 billion in the wide-ranging fund, whose positions include airline, bank and tech stocks. “This is insurance in case the house burns down.”


Commodity Trade Alert

L’Estasi Dell’oro (The Ecstasy…

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