“The Big Short” traders Danny Moses, Vincent Daniel and Porter Collins are focused on one of their top long bets: gold. “I just don’t think Americans have enough gold in their portfolio,” Collins said on CNBC’s ” Fast Money ” in an exclusive interview this week . The three investors are known for their successful bet against the housing market ahead of the 2008 crisis. Collins, who is co-founder of Seawolf Capital with Daniel, referred to massive central bank buying around the world and the U.S. budget deficit as reasons to buy gold. “If you just think about that one dollar in your wallet, tomorrow it’s worth less,” Collins added. “I think that in … one, two, three, five, 10 years, you’re going to make a lot more money in gold than you will in U.S. Treasurys , and I think that’s just not changing.” Gold futures are up about 15% in 2024, but they are off their all-time high of $2,488.40 hit on July 17. “Gold … in the past has done extremely well,” Daniel noted. Daniel and Collins’ firm highlighted gold in their annual note to shareholders this month. ‘Neither of us can tell if we are bearish or bullish right now’ “Neither of us can tell if we are bearish or bullish right now. We see the slight deceleration in the economy but we continue to be very net long an odd mix of idiosyncratic long ideas. We are still very long gold , gold miners , Silver , Platinum Group Metals (PGMs) and Bitcoin ,” they wrote. “This group leads our dollar debasement thesis. This theme has had fits and starts for the past four years, but we have bought almost every dip along the way.” Danny Moses, founder of Moses Ventures, is also bullish on gold. In a special email to “Fast Money” on Monday, Moses wrote he has a “large long” in the Sprott Physical Gold Trust . The exchange-traded fund holds gold bars. According to the Sprott website, it is designed to give investors exposure to the yellow metal “without the inconvenience that is typical of a direct investment.” As of Friday’s close, the Sprott Physical Gold trust is up more than 16% so far this year.
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