Veteran investor Marc Faber, author of The Gloom, Boom and Doom Report, reiterated the need for gold in a diversified portfolio when interviewed last week on CNBC.
Asked for his view about gold, Faber commented on possible gold market manipulation and the need to diversify investment portfolios:
“Basically, we’ve been in a correction since 2011, some informed observers they think that the market is manipulated, I don’t know.
But I have always argued, we don’t know how the world looks like in 5 years’ time, maybe the S&P is at 3000, but it could also be at 1500, we just don’t know.
There’s a lot of manipulation through fiscal and monetary policies.
Now, I want to be diversified, I want to own some gold, I want to own some shares, I own the most in Asia, and some in Europe because I think in Europe there’s still better value than in the US, and I own some bonds and cash and real estate. So, I hope that when the collapse happens, I’m only going to lose 50% of my money. “
Source Gold Core
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