First things first
This video of Brent and Gene discussing gold prices was recorded on July 5th, 2021.
And we all know how fast things change in the markets.
With that being said, Brent reserves the right to change his mind on anything, anytime the data is compelling enough for him to change it.
Everyone Must Own Gold
Like every other Rebel Capitalist out there, Brent agrees. Everyone should have gold in their portfolio.
George discusses owning gold in his 10/80/10 portfolio. George is explicit about owning physical gold, however.
Brent would likely agree with George. Own physical gold if you can for catastrophe insurance. Gold is the one proven asset that protects your wealth during times of high inflation.
Don't Bet It All On One Thing
One warning that Brent gives, and this is just common knowledge for everyone reading, is that you should always have a diversified portfolio.
If you need help understanding what a diversified portfolio looks like, then check out How to Build A Portfolio Like Chris MacIntosh.
You know who you are. If you are 100% gold. Whether that be a mix of physical, miners, streamers, whatever…consider rebalancing to something not so heavily concentrated in one sector.
Also, if this you then sign up for Rebel capitalist Pro and let the pros guide you to a place of accumulating wealth if you need it.
Physical Gold won't Make You Rich
Owning physical gold will not make you rich. Gold is not a multi-dimensional asset class that pays you to own it. Not to mention, it's taxed like a collectible. So taxes are higher when you sell it.
When the price of gold moves up it's because the value of the currency that it's pegged to has gone down. A lot of people think they are getting wealthier as gold prices increase. Not true. It just takes more dollars to buy the same gold, because the dollar lost value.
In the long run, however, gold gains value when the dollar loses value. This is why it's like insurance and why everyone should own some.