Gold is an opportunity, an enigma and a bubble - billionaire survey says

[pmbug]

... 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.
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http://www.bloomberg.com/news/2011-...outs-gold-as-trump-embraces-foreclosures.html

They are all over the map in their responses.

 

[ancona]

Billionaires cannot possibly view the world as it is seen by the common man. These guys are so completely out of touch with reality it confounds me as to why our government takes their counsel. As a person who has to work his ass off to pay the bills and put a little aside for a rainy day, I am able to see what the massive debasement of our fiat currency has done to my purchasing power. A billionaire simply has his do boy run out and shop from a list. Most of them probably do not even bother to look at their bills, they simply order them to be paid. How the hell would a billionaire know what it is like to suddenly only be able to buy 78% of what they could buy in 2003?

Anyone who doubts the strength of gold and silver will be in a food line when the shit hits the fan, and the world opens their eyes to the fiat destruction that lay before them.