Gold bulls see profit in the gloom

By Tim Cohen
BusinessDay (Johannesburg) 

Marc Faber

Devoted gold investors around the world are often depicted as eccentric devotees of a fundamentally pessimistic world view. But keynote speaker at the Mining Indaba, Marc Faber, showed on Tuesday that pessimism is not incompatible with humour — or being persuasive.

Noted investor Dr Faber said on Tuesday that he maintains 25% of his portfolio in gold, 25% in equities, 25% in bonds, 25% in cash and 25% in property.

“I know that adds up to more than 100%; I just have the same accounting standards as the US Federal Reserve”.

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