But he does suggest allocating 25 percent of your investment portfolio to gold.
“Gold is insurance if the banking system fails,” he said at the CFA Analyst Seminar in Chicago in a presentation titled, “Inflating Asset Markets and Deflating Real Economic Activity? Strategies for Global Investors.”
“As an investor I’d like to own something outside the banking system, and that includes real estate, art and gold,” he was quoted by Pensions & Investments Online as saying.
He said real estate and emerging markets equities are better bets than U.S. stocks during the next five to 10 years.
He said Vietnam, Cambodia, Thailand and Laos are among the most promising regions for investment for the next 30 years. “In the absence of war, the area will be very attractive,” he noted.
He sees bonds as the most despised investment right now, but prefers U.S. Treasurys to European rivals.
Meanwhile, gold prices rallied from from five-year lows on Monday as investors returned to the precious metal after China’s stock market plunged. Gold futures rose $11.70, or 1.1%, to $1,097.20 a troy ounce on the Comex division of the New York Mercantile Exchange.
- Source, NewsMax
