Druckenmiller piled into Treasuries on Trump’s China tweet – ‘gold’s not bad either’
“‘When the Trump tweet went out, I went from 93% invested to net flat, and bought a bunch of Treasuries,’ [Stanley] Druckenmiller said Monday evening, referring to the May 5 tweet from President Donald Trump threatening an increase in tariffs on China. ‘Not because I’m trying to make money, I just don’t want to play in this environment.’ . . . While Treasuries have become less interesting amid their rally in recent days, Druckenmiller says they’re ‘the best game in town’ if the economy deteriorates. ‘Gold’s not bad either,’ he added.”
USAGOLD note: Druckenmiller, a famed billionaire investor, has been in and out of gold in recent years. He generally has a positive view of the metal and spoken favorably about owning it on a number of occasions. Apparently, he was one of those mysterious “investors” mentioned in countless press reports over the past few days who moved into safe havens. Now might be a good time to follow his lead – play a little defense to protect the wealth you have gained in the stock market or other investments.
Repost from 6-4-2019