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Cash not gold is ‘Death of Money’ author Jim Rickards surprise top portfolio allocation

By: Peter Cooper, Arabian Money

 -- Published: Wednesday, 28 May 2014 | Print  | Disqus 

This summer’s must-read ‘The Death of Money’ by Jim Rickards comes to a surprising conclusion in his recommended portfolio allocation that will be discussed in depth in the next issue of the monthly ArabianMoney investment newsletter. Cash and not gold is his top portfolio allocation.

You might imagine that somebody predicting the implosion of the US dollar would not want to hold greenbacks. But actually he likes cash in US, Canadian and Singaporean dollars and the euro, and recommends a 30 per cent portfolio allocation to cash.

20% gold

He is only putting 20 per cent into gold right now, despite its traditional role as real money over the millennia. That said he firmly rejects stocks and bonds for the rest of his portfolio, instead preferring a mix of undeveloped land, selected hedge funds and fine art.

Why not own more gold if he thinks the stocks and bonds that most investors own are toxic assets? Read Mr. Rickards rather long and academic book if you want the full answer, or our commentary in the next issue of the monthly newsletter.

But in short, he reckons cash is a better protection against asset price deflation which is most probably where the global economy is heading next. Gold is better as a way to beat the inflation that will follow as the global money printing saga continues.

Super rich tale

It is interesting that the global super rich already seem to be following Mr. Rickards advice. They are the ones investing in prime property in top cities or land, as well as buying gold and fine art and patronizing the hedge funds.

Still Mr. Rickards’ timely book has the retail investor later flocking to buy gold as a protection against inflation driving the price up to $7-9,000, and the final price of gold goes up $2,000 an ounce between the introduction and the conclusion for reasons that are not really explained.

What we don’t get, however, is a timeframe, except for the odd hint that China will reveal its revised 4,000 tonne official reserves in late 2014 or 2015 and this will be a ‘harbinger of inflation’. Presumably then the deflation will have happened before that moment.

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 -- Published: Wednesday, 28 May 2014 | E-Mail  | Print  | Source:

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About Peter Cooper:
Oxford University educated financial journalist Peter Cooper found himself made redundant by Emap plc in London in the mid-1990s and decided to rebuild his career in Dubai as launch editor of the pioneering magazine Gulf Business. He returned briefly to London in 1999 to complete his first book, a history of the Bovis construction group.

Then in 2000 he went back to Dubai to become an Internet entrepreneur, just as the dot-com market crashed. But he stumbled across the opportunity to become a partner in, which later became the Middle East's leading English language business news website.

Over the course of the next seven years he had a ringside seat as editor-in-chief writing about the remarkable transformation of Dubai into a global business and financial hub city. At the same time prospered and was sold in 2006 to Emap plc for $27 million, completing the career circle back to where it began a decade earlier.

He remains a lively commentator and columnist as a freelance journalist based in Dubai and travels extensively each summer with his wife Svetlana. His financial blog is attracting increasing attention with its focus on investment in gold and silver as a means of prospering during a time of great consumer price inflation and asset price deflation.

Order my book online from this link


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