-- Published: Monday, 18 April 2016 | Print | Disqus
April 15, 2016
Featured Guests:
Robert Kiyosaki, Dr. Marc Faber, Professor Burton Malkiel & Marin Aleksov
(encore show)
Summary:
Dr. Burton Malkiel, Professor from Princeton University returns to the show to discus the 11th edition of his magnum opus, A Random Walk Down Wall Street.
His outlook for 2016 is somber - equities and most asset classes seem overvalued.
The CAPE P/E ratio, currently near 23 in the US, which indicates US shares are overpriced relative to global shares, on a historical basis.
When valuations are extended, diversification is most necessary, buffering the impact of increased volatility.
Although the professor agrees with the host that 2016 will be a year of Fed rate hikes, tame economic conditions will likely hold policymakers in check.
The idea of market unpredictability is comparable to quantum mechanics, where Einstein could not accept quantum theory.
Instead of predicting price outcomes, probability theory facilitates enhanced portfolio return.
Even the Oracle of Omaha, Warren Buffett has publicly denounced active investing, instructing his heirs to engage in passive index investing.
The professor offers his favorite index fund with a low expense ratio, the ETF: (VTI), with a remarkable expense ratio of 1/20th of one percent, 0.0005%.
Using such low expense ETFs, the typical individual investor can easily outperform virtually all top money managers and hedge funds.
Adding bonds to stock index funds is advisable.
Chris welcomes back Dr. Marc Faber, a widely respected economist and editor of the GloomBoomDoom report.
Our guest expects the Fed to backpedal with the new rate hike policy, with the announcement of a new wave of monetary expansion this year, QE 4.
Policymakers are pushing on a string - monetary expansion is far less affective with each installment.
Although the equities indexes are being buoyed by a few key shares, the majority of stocks are in bear market territory.
Dr. Faber questions the veracity of official US economic figures, noting a high likelihood of a recession in early 2016 despite official indications to the contrary.
After years of stagnation, gold shares are outperforming most sectors, as their relative value encourages wise investors to allocate funds into the XAU.
Dr. Faber recently added to his gold position, using weakness as an opportunity to procure sound money at a discount.
The storage cost for physical gold bullion is low making the yellow metal an ideal asset to outperform other commodities amid a 2016 rebound rally.
Chris welcomes back to the show, Marin Aleksov, CEO of Rosland Capital.
Our guest says the recent market volatility, domestically as well as in Asia, which could lead to a 2008 style market crisis, halting the FOMC rate hikes.
In addition, the collapse would increase appeal of safe haven assets such as precious metals.
Marin Aleksov is primarily concerned with the return of his wealth and less so with the return, on his portfolio.
Our guest advocates a gold allocation of 20%-30% per investment portfolio.
Investors may be placing too big an emphasis on near-term performance.
Gold is still higher by over 25% since 2008.
With gold priced at bargain levels, the risk / reward is enticing.
Millions of investors worldwide are seizing the opportunity to increase exposure with limited downside.
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Guest Bio.'s:
Marin Aleksov
Rosland Capital
In 2008 Marin Aleksov founded Rosland Capital – recognized today as one of the premier precious metal asset firms in the United States. Marin now serves as CEO of the company and guides the development and expansion of Rosland's activities, while remaining closely involved in ensuring customers' needs are met and exceeded.
Rosland currently employs about 70 people and strives to educate consumers on the benefits of buying precious metals.
Marin has said, "Historically, when Washington implements policies that cause the dollar to decline, these same actions tend to increase the value of gold. This is why many use gold as a hedge against inflation and for wealth preservation."
Given his knowledge and experience of the value of buying gold, Marin has been a source for a variety of media outlets reporting on the benefits of this kind of diversification. Marin Aleksov has been featured extensively as a guest on radio shows hosted by leading national commentators.
Dr. Burton G. Malkiel, the Chemical Bank Chairman’s Professor of Economics at Princeton University , is the author of the widely read investment book, A Random Walk Down Wall Street. The revised 9th edition paperback of the book was published in 2007.
Dr. Malkiel has long held professorships in economics at Princeton , where he was also chairman of the Economics Department. He was dean of the Yale School of Management and William S. Beinecke Professor of Management Studies there from 1981 to 1987.
He is a past appointee to the President’s Council of Economic Advisors. In addition, he currently serves or has served on the boards of several financial corporations including Prudential Financial and the Vanguard Group and nonfinancial corporations such as Genmab and Theravance. He has also served on several investment management boards including the Investment Committee for the American Philosophical Association. He is a past president of the American Finance Association and is a member of the American Economic Association.
He is also the author or co-editor of eight other books, the most recent of which are The Random Walk Guide to Investing: 10 Rules for Financial Success and Global Bargain Hunting: An Investor’s Guide to Profits in Emerging Markets, with J. P. Mei and From Wall Street to the Great Wall, with others.
He holds a B.A. and MBA degree from Harvard and a Ph.D. degree from Princeton Universities and began his career in the investment banking department of Smith Barney & Co.
Dr Marc Faber was born in Zurich, Switzerland. He went to school in Geneva and Zurich and finished high school with the Matura. He studied Economics at the University of Zurich and, at the age of 24, obtained a PhD in Economics magna cum laude.
Between 1970 and 1978, Dr Faber worked for White Weld & Company Limited in New York, Zurich and Hong Kong.
Since 1973, he has lived in Hong Kong. From 1978 to February 1990, he was the Managing Director of Drexel Burnham Lambert (HK) Ltd. In June 1990, he set up his own business, MARC FABER LIMITED which acts as an investment advisor and fund manager.
Dr Faber publishes a widely read monthly investment newsletter "The Gloom Boom & Doom Report" report which highlights unusual investment opportunities, and is the author of several books including “ TOMORROW'S GOLD – Asia's Age of Discovery” which was first published in 2002 and highlights future investment opportunities around the world. “ TOMORROW'S GOLD ” was for several weeks on Amazon's best seller list and is being translated into Japanese, Chinese, Korean, Thai and German. Dr. Faber is also a regular contributor to several leading financial publications around the world.
A book on Dr Faber, "RIDING THE MILLENNIAL STORM", by Nury Vittachi, was published in 1998. A regular speaker at various investment seminars, Dr Faber is well known for his "contrarian" investment approach.
He is also associated with a variety of funds and is a member of the Board of Directors of numerous companies.
Robert Kiyosaki, author of Rich Dad Poor Dad - the international runaway bestseller that has held a top spot on the New York Times bestsellers list for over six years - is an investor, entrepreneur and educator whose perspectives on money and investing fly in the face of conventional wisdom. He has, virtually single-handedly, challenged and changed the way tens of millions, around the world, think about money.
OVER 6 YEARS ON THE NEW YORK TIMES BEST SELLER LIST! - November 2007 -
In communicating his point of view on why 'old' advice - get a good job, save money, get out of debt, invest for the long term, and diversify - is 'bad' (both obsolete and flawed) advice, Robert has earned a reputation for straight talk, irreverence and courage.
Rich Dad Poor Dad ranks as the longest-running bestseller on all four of the lists that report to Publisher's Weekly - The New York Times, Business Week, The Wall Street Journal and USA Today - and was named "USA Today's #1 Money Book" two years in a row. It is the third longest-running 'how-to' best seller of all time.
Translated into 51 languages and available in 109 countries, the Rich Dad series has sold over 27 million copies worldwide and has dominated best sellers lists across Asia, Australia, South America, Mexico and Europe. In 2005, Robert was inducted into Amazon.com Hall of Fame as one of that bookseller's Top 25 Authors. There are currently 26 books in the Rich Dad series.
In 2006 Robert teamed up with Donald Trump to co-author Why We Want You To Be Rich - Two Men - One Message. It debuted at #1 on The New York Times bestsellers list.
Robert writes a bi-weekly column - 'Why the Rich Are Getting Richer' - for Yahoo! Finance and a monthly column titled 'Rich Returns' for Entrepreneur magazine.
Prior to writing Rich Dad Poor Dad, Robert created the educational board game CASHFLOW 101 to teach individuals the financial and investment strategies that his rich dad spent years teaching him. It was those same strategies that allowed Robert to retire at age 47.
Today there are more that 2,100 CASHFLOW Clubs - game groups independent of the Rich Dad Company - in cities throughout the world.
Born and raised in Hawaii, Robert Kiyosaki is a fourth-generation Japanese-American. After graduating from college in New York, Robert joined the Marine Corps and served in Vietnam as an officer and helicopter gunship pilot. Following the war, Robert went to work in sales for Xerox Corporation and, in 1977, started a company that brought the first nylon and Velcro 'surfer wallets' to market. He founded an international education company in 1985 that taught business and investing to tens of thousands of students throughout the world. In 1994 Robert sold his business and, through his investments, was able to retire at the age of 47. During his short-lived retirement he wrote Rich Dad Poor Dad.
"We go to school to learn to work hard for money. I write books and create products that teach people how to have money work hard for them." -- Robert Kiyosaki
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Dr Marc Faber was born in Zurich, Switzerland. He went to school in Geneva and Zurich and finished high school with the Matura. He studied Economics at the University of Zurich and, at the age of 24, obtained a PhD in Economics magna cum laude. 
Robert Kiyosaki, author of Rich Dad Poor Dad - the international runaway bestseller that has held a top spot on the New York Times bestsellers list for over six years - is an investor, entrepreneur and educator whose perspectives on money and investing fly in the face of conventional wisdom. He has, virtually single-handedly, challenged and changed the way tens of millions, around the world, think about money.
