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John Paulson Says Buy Gold, Help Make Him Richer

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GOOOOOOLD!
DailyFeed
Billionaire hedge fund manager John Paulson, never one to shy away from talking his book (Abacus, anyone?), predicts gold could hit $2,400/oz "based only on monetary expansion" and may go as high as $4,000/oz by 2012, "based on a projected overshoot" if double-digit inflation kills the bond market.

Surprise, surprise--Paulson has a pretty significant motivation to make this view public, as he...wait for it...wait for it...revealed during a speech at New York City's University Club that 80% of his assets are in gold, spread out between ETFs, physical bullion and shares of gold mining stocks.

Paulson, who, according to MineWeb, "is believed to hold more gold bullion than several nations combined," counts among his investments: AngloGold Ashanti, Barrick, Gold Fields, IAMGOLD, Kinross, NovaGold, Randgold Resources, and SPDR Gold Trust.

A word to the wise--if a guy with a French accent from Goldman Sachs calls you with a "can't miss" opportunity in gold and happens to drop John Paulson's name, RUN.
POSITION:  No positions in stocks mentioned.

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