Weekly Touchpoint: Billionaire Sawiris Preparing for Market Crash with Physical Gold
Posted By | May 8, 2018
More people are fretting over a dangerously overvalued stock market and wondering, “Where do I turn next?” Some investors seek answers exclusively within the realm of equities and bonds, but others recognize the potential advantages of moving directly to gold.
• In fact, Egypt’s second-richest man is apparently so enamored of gold’s value as a safe haven that he’s decided to convert half of his entire $5.7 billion net worth to gold. According to MarketWatch, Naguib Sawiris, chairman of Orascom Telecom Media & Technology Holding SAE, is making this strong commitment to gold because, as he puts it, the world is “full of crises right now.”
• Former Kentucky congressman and presidential candidate Dr. Ron Paul says gold should be everyone’s next stop when a massive downturn in the stock market is lurking. He told CNBC a history of quantitative easing has made “everything artificial” for years. Paul is looking for the stock market to give up as much as 50 percent of its current value. Already a healthy investor in gold, the congressman says he plans to buy even more of it.
• The Street notes popular Shark Tank investor Kevin O’Leary is another big fan of gold, however he will own it not through mining stocks but as bullion. In remarks at a recent symposium, O’Leary complained that “the history of mining has been abysmal” and said buying the commodity once it’s out of the ground has “served me very, very well.”
• Regular securities brokerages are not set up to maintain custody of alternative assets. The self-directed IRA is the only way to own physical gold and silver as a part of a tax-deferred portfolio. Also, because self-directed IRAs allow many non-traditional assets besides gold and silver, they just might be the single-best tool for achieving effective diversification of your IRA or 401(k). Learn more about the extraordinary potential offered by the self-directed gold IRA: read the latest blog article from Augusta Precious Metals.
You may not be a billionaire. You may not want to put half your net worth in gold. But if you are hoping to enjoy a secure retirement, it’s a good idea to consider the strategic acquisition of physical gold and silver for your IRA or 401(k). Learn more about how gold and silver may be able to help your portfolio continue making progress when traditional assets are facing a crisis, call Augusta Precious Metals today.
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