Billionaire Switching To Gold

Discussion in 'Commodities Forum' started by longtermbull, May 1, 2018.

  1. longtermbull

    longtermbull Administrator Staff Member

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  2. JR Ewing

    JR Ewing Super Moderator Staff Member

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    Very interesting strategy.

    I am typically 5%, perhaps 10% gold at the most at any one time.

    I prefer to make a number of different smaller bets, but of course I'm no billionaire.

    I'm never sure enough of any one thing to have 50% (or even 25% of my money in it - with the possible exception of cash for limited time periods) of my money in any one investment.

    I remember John Paulson making a big bet on gold a few years back that didn't pan out (pardon the pun).
     
  3. gowiththeflow

    gowiththeflow Senior Investor

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    Brave call to switch so much money into one commodity - however, with all of the worldwide turmoil I see very little downside for gold at this level. There is certainly more upside than downside, in my view :)
     
  4. longtermbull

    longtermbull Administrator Staff Member

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    Thinking about it, surely a switch of that size could actually move markets and become a self fulfilling prophecy?
     
  5. kirtimeliwal

    kirtimeliwal Senior Investor

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    Switching to gold is a very good idea because it is very good for long term investment and should be a part of your diversified investment portfolio.
     
  6. gowiththeflow

    gowiththeflow Senior Investor

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    However, I am not sure I would switch 50% of my money into gold! Brave call but then again I dont think there is much downside in the price of gold.
     
  7. Andris

    Andris Active Member

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    I agree with your 100 percent. I would not do that much..
     
  8. gowiththeflow

    gowiththeflow Senior Investor

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    I think with markets relatively high there is an argument for at least a partial switch into gold. Markets are bound to fall back at some point - look at the UK, benefitting from a weak currency because of Brexit. You could not make it up :)
     
  9. Chartman

    Chartman Senior Investor

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    When you consider we are in the middle of a huge economic crisis I would be interested to learn why gold is no longer seen by many as a safe haven? The price has not increased by anywhere near the degree I would have expected. Is the US dollar now seen as the main safe haven?
     
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