An entertaining exchange between Reuters’ Felix Salmon and the Economist’s Matthew Bishop, author of the new book In Gold We Trust?
Among Covestor managers, Tom Yorke of Oceanic Capital has been particularly vocal and articulate about the importance of holding the yellow metal:
Big picture, we believe that gold is a good investment for the long term and should have a proper balance with other assets held in our portfolios. Paper dollars, like our fiat system, have historically never lasted long, and we have seen so many devaluations – announced or otherwise – that we want to make sure we hold disaster insurance always. If that insurance can also slowly appreciate along the way, great. Things may get rocky from time to time, but we are disciplined to keep our eyes on the horizon and not the side of the boat. Gold is a portfolio keeper.