Wednesday, October 29, 2014
25 percent of my Assets are in Gold
HAI: One way investors can hedge against all these risks is gold. We saw prices reach a low of $1,183 last week, but it's bounced back since then. What do you make of gold right now?
Marc Faber: I've advocated owning gold since the late 1990s. It is a safe investment in times of monetary uncertainty and monetary inflation. I would keep roughly 25 percent of my assets in gold.
HAI: Do you consider it an investment that's going to stay stable? Or something that can increase in value from current levels?
Marc Faber: We had a huge bull market in gold that outperformed just about any other investment between 1999 and September 2011. We're now three years into a correction phase. Can gold drop below $1,000 first before it goes up meaningfully? It's possible. Because as you know, there has been some manipulation in the gold market. However, gold will go higher over time. - in SeekingAlpha
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.Dr. Doom also trades currencies and commodity futures like Gold and Oil.
Posted by Nicole Bourbaki