“Paul’s portfolio isn’t merely different,” said an astonished Journal, “it’s shockingly different.”
Twenty-one percent of his $2.4 to $5.5 million was in real estate, 14 percent in cash. He owns no bonds. Only 0.1 percent is invested in stocks, and Paul bought these “short,” betting the price will plunge. Every other nickel is sunk into gold and silver mining companies.
Bernstein “had never seen such an extreme bet on economic catastrophe,” said the Journal.