John Paulson Thinks a Gold Bubble is Ludicrous

John Paulson delivered a speech at the Chinese Finance Association’s 17th Annual Conference in New York. The conference was named “Anchor in the Storm or the Next Bubble to Burst: China at Crossroads.”

John Paulson on the Possibility of a Gold Bubble

John Paulson discussed several issues at the conference. He touched on topics ranging from what he is investing in, what he’s not and his outlook for the economy. Paulson is taking a conservative stance when it comes to investment. According to PeopleUnlikeUs, he told conference attendees, “trying to invest in China from NY or London poses too much risk” …”we haven’t given up, we need more local presence.” Paulson was most talkative on the issue of gold. Paulson said “I view gold as currency, I was not interested in it as currency until quantitative easing” but he also explained that he thinks a gold bubble is impossible right now, explaining that ownership volume is too low for any sort of bubble to form, reports BusinessInsider.

Chinese Finance Association’s 17th Annual Conference

The Chinese Finance Association’s 17th Annual Conference in New York hosted several prominent speakers from Wall Street in addition to John Paulson. Vice Chairman of the Blackstone Advisory Partners, Byron Wien, presented, as well as King Street Capital Co-Founder Brian Higgins, TPG-Axom Capital Management’s Dinakar Singh, the Vice Chairman of Global Markets for Bank of America Merrill Lynch Hayley Boesky, Nomura’s Global Chief Economist and Head of Economic Research Paul Sheard and Goldman Sachs Senior Economist Andrew Tilton. The Chinese Finance Association also hosted several prominent speakers from China, including speakers from the China Investment Corp, CITIC Securities Chairman Dongming Wang, former CEO of Bosera Fund Management Feng Xiao and Guotai Junan International Holdings Vice Chairman and CEO Fung Yim.