Not Too Late to Buy Gold: Beware of Global Bumps Ahead, Lynn Tilton Says
By Heesun Wee
December 15, 2009
With markets still rallying from March lows, it's easy to wonder if the window is closed for investors who've been waiting on the sidelines.
Not so says our guest, Lynn Tilton, founder and CEO of Patriarch Partners, a private equity fund with more than $7 billion under management. The fund focuses on distressed assets. With the recession in full swing, there are plenty of businesses and name brands available at affordable prices.
"We're seeing a tremendous opportunity in companies that have got beaten down," Tilton tells Aaron. "Buy for the long term."
For example, Patriarch recently acquired a majority stake in Dura Automotive. Beyond the auto-parts sector, she's interested in beauty products and boat companies.
"I figure if I can add up all the boys' toys before I die, I win," Tilton says.
She's also bullish on gold, which she began buying in the summer of 2007. Unsure if the banking sector was going survive the crisis, Tilton says she hoarded gold to ensure she could pay her employees.
To read Lynn Tilton's bio click here About Lynn Tilton
Follow Lynn Tilton on Twitter at www.twitter.com/lynntilton
Watch video at SME Rescue Loans Youtube Channel