NEW YORK (Reuters) - Hedge fund billionaire John Paulson said Wednesday his firm is having a "strong year" and that he remains bullish on gold and U.S. real estate.
Paulson, head of New York-based Paulson & Co., said that "the rationale for owning gold is valid" because inflation will rise over time. Speaking at the CNBC Institutional Investor Delivering Alpha Conference, he said he still sees gold as a potential hedge against inflation.
Paulson reiterated that he sees value in the residential real estate market in the United States, and that a lack of new home construction since the crisis has led to a shortage of new homes to purchase, driving demand.
Paulson said "we are in a healthy M&A environment that is going to get better," highlighting the wireless and cable sectors.
(Reporting by Sam Forgione; Editing by Chizu Nomiyama)
