Expert advice: Sell American dollars. Buy gold, art and jewelry
Some critics say we are like Joe Bfstplk character in the old L’il Abner comic strip. Joe was walking with his own personal dark cloud hanging over his head.
We defend ourselves by saying, “You do not understand. It is probably worse than us than we think and we think it’s pretty damn bad, “Now it seems that a big-time Wall Street mover and shaker sing our song.
There may be another series of quantitative easing in the U.S. and Europe remains unstable. What does an investor do? Log in gold, art and jewelry, Scott Minerd, chief strategist at Guggenheim Partners, told CNBC on Wednesday.
“We’re a ‘beggar thy neighbor” of the time. Paper currency is rubbish at the end, “he said.”It ‘a matter of relative values, where rubbish you are.”
No gold, of course, but “I labeled a Gold Bug,” said Minerd. “I am in favor of any asset class that is of store value, which takes you away from exchange rate risk” and include art, collectibles and diamonds. In his long-term horizon, “all these assets are probably over for no currency investments as financial assets.”