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APR 14, 2020 By: Steven Feldman CEO, Gold Bullion International ( www.bullioninternational.com) CEO, Auvere ( www.auvere.com) Retired partner, Goldman Sachs Current Wealth Management Client, Goldman Sachs Private Bank As a former partner of Goldman Sachs (GS) and current gold industry executive, it came as no surprise when dozens of customers and colleagues reached out to me this week to get my take on the latest research note from GS’s Investment Strategy Group (ISG).  In its note, ISG responds to a number of GS’s wealth management clients who had inquired about adding gold to their portfolios during these unprecedented times. In short, ISG stated that GS does “not recommend gold as a strategic asset class in a well-diversified portfolio.” I have great respect for GS. Having worked there for 23 years, I experienced the firm in a way that is not appreciated by most people. GS’s long-standing commitment to both philanthropy and small business is undeniable. GS has put aside funds to support small businesses, particularly those owned by women and minorities. Moreover, in response to the current pandemic crisis, the firm donated to the local healthcare community its stockpile of masks accumulated post 9/11. As much as I respect GS and cherish the relationships that I have built with many of its former and existing partners and employees, I strongly disagree with ISG’s views about gold – particularly ISG’s enduring supposition that gold is not a strategic asset. Before I refute the thrust of ISG’s arguments against gold, I would like to … Continue reading →