What’s the best way to turn the yellow metal into green? That’s the question the WSJ recently asked four prominent investors.
Turns out that Greenlight Capital‘s David Einhorn, in addition to a Queen’s warehouse full of gold bars, also likes the Market Vectors Gold Miners ETF (GDX) where he owns 2% of the fund.
The $7 billion exchange traded fund carries a net expense ratio of 0.53%. Top holdings include Barrick Gold Corp, Goldcorp, Newmont Mining and Kinross Gold Corp.
According to the fund’s manager Van Eck Global, GDX has a correlation with the S&P 500 of only 0.34 over the past 3 years.