Forbes
This March two of the world's biggest investors became believers in a company with next to no revenues and $352 million in losses over three years. Funds run by billionaires George Soros and John Paulson invested a combined $175 million in NovaGold Resources. Both Soros and Paulson are seriously bullish on gold, but why did they bet on a Vancouver mining company with an unimpressive history?
They were following the lead of Thomas Kaplan, 47, a little-known New York City billionaire investor who thinks gold's bull run is far from over. An Oxford-trained historian, Kaplan believes that the last 40 years, when gold was not the world's reserve currency, were an aberration and that gold will revert to the top store of value as it was for 5,000 years. He means it: Kaplan's family office, Tigris Financial Group, manages close to $2 billion in gold assets. [...]
This March two of the world's biggest investors became believers in a company with next to no revenues and $352 million in losses over three years. Funds run by billionaires George Soros and John Paulson invested a combined $175 million in NovaGold Resources. Both Soros and Paulson are seriously bullish on gold, but why did they bet on a Vancouver mining company with an unimpressive history?
They were following the lead of Thomas Kaplan, 47, a little-known New York City billionaire investor who thinks gold's bull run is far from over. An Oxford-trained historian, Kaplan believes that the last 40 years, when gold was not the world's reserve currency, were an aberration and that gold will revert to the top store of value as it was for 5,000 years. He means it: Kaplan's family office, Tigris Financial Group, manages close to $2 billion in gold assets. [...]