http://www.bloomberg.com/news/2011-...outs-gold-as-trump-embraces-foreclosures.html... Bloomberg Markets magazine in its January issue asked 10 billionaires 14 questions covering their views on the global economy, where they see opportunities and who gave them the best advice.
We found much agreement: The billionaires say traditional indicators have little influence on their investment decisions. In fact, hair-care mogul John Paul DeJoria says beauty salons are better barometers of economic health. The 10 largely agree that the euro will depreciate further and that keeping one’s portfolio in U.S. dollars is smart.
Lawyer Joe Jamail, with the bulk of his fortune in bonds and cash, expresses in colorful language a common tenet: Hedge funds are dangerous.
“I’d buy cocaine rather than buy that s---,” he says.
We also found diverging opinions. The Standard & Poor’s 500 Index may wind up anywhere from 1,200 (according to Jamail) to 1,400 (according to Rubens Menin Teixeira de Souza) at the end of 2012. It was at 1,195.19 on Nov. 29. Gold is an opportunity, an enigma and a bubble, they say.
They are all over the map in their responses.