Chris Pia: Gold to $1300

Discussion in 'Wall St. News' started by turkeyneck, Nov 24, 2009.

  1. Dump the dollar! Buy gold!

    Chris Pia, a master trader and Moore Capital alumnus, explains the market.

    By Shawn Tully, editor at large
    Last Updated: November 24, 2009: 9:35 AM ET

    (Fortune magazine) -- Back in 1988, long before Louis Bacon became the secretive hedge fund billionaire atop Moore Capital, he was walking the trading floor at Shearson Lehman when he spotted Chris Pia, a burly 21-year-old recruit.

    The jazzy graphics Pia was running on his computer impressed Bacon, and the kid knew a bit about commodities, having spent the past five summers clerking on the COMEX "while my friends tended bar at Jones Beach."

    So Bacon, who had just been given $20 million of Shearson's capital to trade, told Pia, "I want you to do the same kind of charts for my trading operation." Pia jumped at the chance to work with Bacon at Shearson.

    Two years later, when Bacon launched Moore Capital, he brought Pia with him. Over the next 18 years the protégé helped Bacon build Moore into a fund with more than $10 billion under management, thanks to the firm's ability to predict changes in the prices of commodities and currencies. As a portfolio manager at Moore, Pia delivered a sevenfold return from 1996 to 2008.
  2. Hey at least the guy doesn't put all eggs in one basket and nicely diversifies his bets! He forgot long emerging market stocks, should add some further diversification :cool:
  3. This board has become such a gold forum.:p
  4. I wonder if it's due for a correction... :D

  5. i am still waiting for stock_turd3r to post gold will reach $10k in the next few years and it is time to buy now before it takes off.