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Faber suggests gettting your gold out......

MilesWaitsMilesWaits Posts: 5,349 ✭✭✭✭✭
in Precious Metals
In such a slow-growth environment, Faber prescribed a diversified mix for portfolios—25 percent to 30 percent in stocks, 20 percent to 30 percent in physical gold—"in a safe deposit box ideally outside the U.S. in various locations" because "I don't trust anyone"—some cash, and up to 30 percent in real estate, particularly in Asia.

"I think it's important in today's very uncertain world to diversify not only in various asset classes...but also the custody of your assets should be in different jurisdictions," he said.



Faber's Commentary
Now riding the swell in PM's and surf.

Comments

  • BaleyBaley Posts: 22,660 ✭✭✭✭✭
    yeah, that's good advice for the average American image

    Liberty: Parent of Science & Industry

  • OnlyGoldIsMoneyOnlyGoldIsMoney Posts: 3,359 ✭✭✭✭✭
    IMO, not so useful suggestions.

    It is hard enough to figure out real estate complexities in the US. Simply managing rental properties within a 10 minute drive can be a chore.

    I cannot see myself carting lots of PMs through Customs to a foreign country and then eventually bringing all of it back throughn US Customs. Add to this the vagaries of foreign governments. If US safe deposit boxes are subject to some sort of seizure I would not want to have to take my chances with some Customs bureaucrat.
    NO END IN SIGHT LIB $2.50'S CAC ONLY
    https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
  • rickoricko Posts: 98,724 ✭✭✭✭✭
    There are more than enough ways to secure gold here without going outside the U.S. - I consider that suggestion ridiculous when you consider the instablility of other countries, the lack of immediate liquidity and the hassle of maintenance. Cheers, RickO
  • 57loaded57loaded Posts: 4,967 ✭✭✭
    real estate as a whole is NOT ready for a recovery. especially sommercial. (Texas may be different)

    i like listening to Marc a lot for the mainstream yickety-yak on TV, but i don't buy into (yet) keeping gold off-shore and a lot of what he said is so far out of reach of 98% of us including myself.

    i think for me it would be the opposite....someone from China offering to by my house for cash and then taking a backhoe to it and building some kinda "statement" house. image
  • jmski52jmski52 Posts: 22,822 ✭✭✭✭✭
    Other than a Red October type revolution, I never understood the need for putting assets way out of reach. After all, who's going to be looking after them if you are not a jet-setter yourself?

    I suppose that you never really know for sure, but I'm better off knowing that I have some immediate control
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • cohodkcohodk Posts: 19,102 ✭✭✭✭✭
    Asian real estate? Yeah, I'll buy a 500 sq ft studio apt in Hong Kong for $1 million. LOL

    The USA has the cheapest real estate on the globe right now. While it might not be time to buy here, it illustrates the ridiculous values and possible (probably) collapse of global real estate.

    And where in Asia, should one buy? Myanmar, Laos, Cambodia, Vietnam? I think I'll stick with Iowa, thank you very much.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • stevekstevek Posts: 28,966 ✭✭✭✭✭
    "Burying" the gold worked thousands of years ago, and it still works today. Just make sure ya remember where ya buried it. LOL
  • PerryHallPerryHall Posts: 46,111 ✭✭✭✭✭


    << <i>"Burying" the gold worked thousands of years ago, and it still works today. Just make sure ya remember where ya buried it. LOL >>



    They didn't have metal detectors thousands of years ago.image

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • JustacommemanJustacommeman Posts: 22,847 ✭✭✭✭✭
    I've kept a saftey deposit box outside the US since 2005. I will continue to do so. Buying real estate in parts of Asia can be tricky. First a lot of areas got over heated and in an effort to slow speculative buying 50% down is not unusual. Also not being a citizen can be a hinderance in some countries. Do your homework and don't let the ramblings of the forum "homers" take your eye off the ball : )
    Difficult does not equal impossible. Don't always take the path of least resistance as its usually the least profitable route and for sure its not paved with gold.

    Dave, I loved the Hong Kong vs Iowa price spin analogy. I laughed outloud. Hong Kong is NYC with a bigger Chinatown.How about NYC vs Hong Kong as it is more applicable? Then compare Cheyndu vs Iowa........just sayin.

    MJ
    Walker Proof Digital Album
    Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
  • renman95renman95 Posts: 7,037 ✭✭✭✭✭


    << <i>yeah, that's good advice for the average American image >>



    image
  • 57loaded57loaded Posts: 4,967 ✭✭✭
    MJ you travel out of the country a lot, so that makes sense for you to have an SDB (or two) to hold your alternate passports, diamond cufflinks and assorted foreign currency denomonations.

    imageimage
  • stevekstevek Posts: 28,966 ✭✭✭✭✭


    << <i>

    << <i>"Burying" the gold worked thousands of years ago, and it still works today. Just make sure ya remember where ya buried it. LOL >>



    They didn't have metal detectors thousands of years ago.image >>



    I was wondering what my neighbor was doing metal detecting in my backyard the other day. LOL
  • CyStaterCyStater Posts: 681 ✭✭✭


    << <i>Asian real estate? Yeah, I'll buy a 500 sq ft studio apt in Hong Kong for $1 million. LOL

    The USA has the cheapest real estate on the globe right now. While it might not be time to buy here, it illustrates the ridiculous values and possible (probably) collapse of global real estate.

    And where in Asia, should one buy? Myanmar, Laos, Cambodia, Vietnam? I think I'll stick with Iowa, thank you very much. >>



    Are you buying farmland? Prices are crazy right now. Upwards of $10K an acre in some parts of the state.
  • jmski52jmski52 Posts: 22,822 ✭✭✭✭✭
    Interesting. I was just up in Iowa, looking at real estate.image
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • JustacommemanJustacommeman Posts: 22,847 ✭✭✭✭✭


    << <i>MJ you travel out of the country a lot, so that makes sense for you to have an SDB (or two) to hold your alternate passports, diamond cufflinks and assorted foreign currency denomonations.

    imageimage >>



    True if you don't have a passport you don't need a SDB in Katmandu. However, if you do travel it sure wouldn't hurt to have a stash of cash and gold outside the US. Bill, my diamond cufflink days are long gone : ).....too funny my friend. MJ
    Walker Proof Digital Album
    Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
  • cohodkcohodk Posts: 19,102 ✭✭✭✭✭
    No, im not buying farmland. I think that segment is generally overpriced. In my home area, it is quite reasonable though. I can still buy for $1000/acre.

    MJ, you can have all the big metro areas. All of them---Singapore, HK, NYC, LA, London, Moscow, ect. Yuck!! I'll stick with Homerville and Baleyville. image I used Iowa as a metaphor as it probably best represents middle America. But, you already knew that.image


    Throughout the globe, most RE is out of reach of its citizens, except in the USA.

    Foreign RE is out of reach for Americans, but American RE is not out of reach for Foreignors.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • CyStaterCyStater Posts: 681 ✭✭✭


    << <i>Interesting. I was just up in Iowa, looking at real estate.image >>



    Always looking for good neighbors! image
  • jmski52jmski52 Posts: 22,822 ✭✭✭✭✭
    I know Cy quite well.image
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • JustacommemanJustacommeman Posts: 22,847 ✭✭✭✭✭


    << <i>No, im not buying farmland. I think that segment is generally overpriced. In my home area, it is quite reasonable though. I can still buy for $1000/acre.

    MJ, you can have all the big metro areas. All of them---Singapore, HK, NYC, LA, London, Moscow, ect. Yuck!! I'll stick with Homerville and Baleyville. image I used Iowa as a metaphor as it probably best represents middle America. But, you already knew that.image


    Throughout the globe, most RE is out of reach of its citizens, except in the USA.

    Foreign RE is out of reach for Americans, but American RE is not out of reach for Foreignors. >>



    Yes Dave we are very sympatico : )

    Your last sentence rings true in 95% of the cases from where I sit. MJ
    Walker Proof Digital Album
    Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
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