ANSWERS TO THE SAME THREE QUESTIONS
2. I don’t currently own gold or gold stocks. I own bonds instead, which would really back up the central bank argument. 3. The major risk I face as a result is the market and economy crumbling, making the stocks and bonds potentially garbage whereas gold ownership would help to offset.
Thomas G. Lauman, managing director at Stifel Nicolaus 1. Central banks. The money standard that matters is the one which stakeholders have the most confidence. Gold was that, and currently bitcoin has its own concerns (lack of understanding, “mined” by select mathletes, transition issues, etc.). The central banks are the monetary standard as they are the most involved, largest stakeholders. Until the major economic players – private and public – endorse computer-generated currencies, the central banks are the only game in town. 2. Yes, at current stock price levels I am more in cash than before. 3. The major risk for me is a continued grind higher due to lack of viable alternative investments. Teeka Tiwari, cryptocurrency guru and investment analyst 1. I put my faith in bitcoin’s cryptographically secure math over paper money. For the first time in my career I believe the American dollar will lose its place as the most trusted monetary standard... I think that mantle will be passed to a digital currency. My bet is the world will turn to bitcoin. 2. I recommend digital currency exposure in my publications.
Mark McCulloh, IT security executive 1. Gold, bitcoin,
central banks (in that order). 2. I diversified my portfolio through asset-class funds, not index funds, which is a bet on market efficiency increasing. At some point, I think the race to razor- thin margins and low costs of transactions will leave some
1. In which monetary standard do you have the most confidence – gold, central banks, or bitcoin? 2. How have you expressed this view in your portfolio? 3. What’s the major risk you face as a result?
unreal values out in the market place, particularly in the thin micro-cap arena. 3. I’m not certain here but my biggest concern is deflation, not inflation like many propose. I worry about gains in technological advances decimating the service industry, reducing demand in many areas (i.e., retailers getting destroyed by online shopping = hard time for malls, etc.).
60 | July 2017
Made with FlippingBook HTML5