- Excerpt from a recent interview with Jim Rickards by Yahoo Daily Ticker, find the full interview here:
Tuesday, February 5, 2013
99.9% of Investors Don't Get Gold
"Certainly the gold bugs are saying this is the beginning of the end, Germany’s taking their gold back and the price is going to scream. But you have to understand that 99.9% of investors don’t get gold. Warren Buffet comes out and says it’s just a shiny metal with no yield, gold hasn't been taught academically for 40 years. So we have 2 generations of scholars that anyone under the age of 50 that knows anything about gold is self-taught as they've stopped teaching it in the schools. Institution allocations of gold are about 1.5%- their portfolio’s are about 40% stocks, 40% bonds, and about 1% gold, so there is an educational function that has to go on. The gold will get there, but not all at once."
at 12:08:00 PM