November 2, 2011 – Quote of the Day

“Now, you are starting to see people front run hedge fund books. People are front running John Paulson’s book. Everybody can see this. People are starting to line up the ducks and ask which hedge funds are going to have redemptions. Which position should I get in front of? Gold is a big problem in that environment. Guess what? The biggest position in the hedge fund community is in gold,” said a leading hedge fund manager.