Monday, 16 May 2005

Selling red and buying gold

I noticed this profile of Harry Dobson, a Scottish investor who has just made the tidy sum of £30 million by selling his Manchester United shares to Malcolm Glazer.

I had never heard of the low-key Mr Dobson before, but he's obviously a wise chap:

He adds: "I’m a believer in gold. I’ve always believed in it and I always will. I really don’t believe in fiat currencies. Governments by their very nature can’t help printing money. That’s just what we’ve been doing. We’ve been printing it, printing it and printing it - and we’re going to pay the price in future years. But that’s just my own personal view."
Very true, except that it's not just Mr Dobson who holds that view. Again, I recommend this site and its blog.

1 comment:

David Farrer said...

Comments made on previous template:

David Farrer
I think it's always worth having at least something put away in real money (gold or silver). I only wish that I'd invested a large chunk five years ago since when the Merrill Lynch fund has gone up by 201%. At least I guessed what was going to happen to pensions when I switched from with-profits to a cash fund back in 2001. If I'd remained in the Standard Life with-profits fund I'd have lost around 50% of the policy value.

16 May 2005, 21:30:31 GMT+01:00
– Like – Reply

Stuart Dickson
I sincerely hope that you are right about all this gold stuff David. Following your months of gold advocacy I have just invested a small amount of money in a gold fund. 
It would not be a tragedy if I lost it, or it performs below the equity-based funds, but I would prefer it not to. 
Mind you, now I am getting worried about my pension funds in equities. It would be a bit more tragic if I lost a good chunk of that!

16 May 2005, 20:26:13 GMT+01:00