Some Of The Richest People in the World Continue to Buy Gold Stocks
When billionaires make a decision with money, it’s usually one worth watching. We have seen a massive uptick in the number of billionaires who have decided to turn wealth to gold and gold stocks. Large hedge fund managers like Ray Dalio, have years of experience wielding the mighty buy option.
Many have turned to gold more than a store of wealth. As well as a way to see gains when other options are not pushing out big numbers.
The Rush for Gold Stocks
Looking at the past hundred years, we can see a number of the wealthiest individuals in the world buying gold. Billionaire, Lord Jacob Rothschild, is a notorious fan of the shiny substance. He was quoted stating that the central bank is the “greatest experiment in monetary policy in the history of the world.”
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Because of this, he chose to not hedge his bets, and rather to store and invest his money in the world of gold. He went on to state that “it is impossible to predict the unintended consequences of very low-interest rates. With some 30% of global government debt at negative yields, combined with quantitative easing on a massive scale.” Rothschild put out an outline back in 2016. This included increasing the gold holdings of the portfolio he manages, to around 8%.
Mark Mobius of Mobius Capital Partners even said, “I think you have to be buying [gold] at any level. I think gold long-term prospect is up, up, and up.”
Another example of a billionaire with a penchant for gold is David Einhorn. As a renowned hedge fund manager, Einhorn has stated that “we believe the increasingly adventurous monetary policy is bullish for gold.” His firm has been able to use this to show as much as 20% in annualized returns. Einhorn and the likes consider gold to be an incredibly useful tool in storing wealth.
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Gold is not subject to high rates of volatility like traditional investments. Instead, it is considered to be the standard for holding onto accumulated earnings. Other billionaires have also stated their interest in the shiny metal. All of this continues to illustrate that when geopolitical tensions lead to market uncertainty, gold may be the best option.
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