Billionaire girds for stock-market crash by investing half his net worth in gold

[EE_]

Billionaire girds for stock-market crash by investing half his net worth in gold
Published: May 1, 2018 12:22 p.m. ET

‘Look at the Middle East and the rest of the world and Mr. Trump doesn’t help’

Egyptian billionaire Naguib Sawiris goes big on gold.

By SHAWN LANGLOIS

Egyptian billionaire Naguib Sawiris isn’t your typical gold bug.

The chairman of Orascom Telecom Media and Technology Holding S.A.E. told Bloomberg in an interview from Cairo this week that he sees gold GCM8, -0.94% surging up to $1,800 an ounce while the “overvalued” stock market hits the skids.

At last check, gold was down almost 1% at $1,307 an ounce while the Dow DJIA, -0.73% and S&P SPX, -0.21% were getting hit hard in Tuesday’s session.

Sawiris, Egypt’s second-richest man behind his younger brother, is putting his money where his mouth is, investing half his $5.7 billion net worth in gold.

“In the end you have China and they will not stop consuming,” he said. “And people also tend to go to gold during crises and we are full of crises right now. Look at the Middle East and the rest of the world and Mr. Trump doesn’t help.”

Watch the full interview:

Sawiris has grown his substantial wealth by investing in Egypt’s telecom sector as well as in less popular markets like Iraq, Pakistan, Bangladesh and even North Korea, where a peace deal could deliver him nice profits, according to Bloomberg.

https://www.marketwatch.com/story/billionaire-girds-for-stock-market-crash-by-investing-half-his-net-worth-in-gold-2018-05-01

[old steel]

Where do you buy that amount of physical gold?

[monty]

Where do you buy that amount of physical gold?
That is what I am wondering.

[Joshua01]

Don't you guys stack any gold? Heck, $3B is what I have stashed away in the basement alone. The rest is spread out across the rest of my mansions
That is what I am wondering.

[Neuro]

Don't you guys stack any gold? Heck, $3B is what I have stashed away in the basement alone. The rest is spread out across the rest of my mansions

A pallet of gold here and there and soon you are talking about real money...

[osoab]

Did he say physical? Just says gold. At 2+ billion, paper would be far easier. Also easier to hedge with shorts too.

[ziero0]

Any idea where I can load up on blood diamonds?

[osoab]

Any idea where I can load up on blood diamonds?

Literal or figurative.

[ziero0]

Literal or figurative.

Real. Don't you support African insurrection?

[osoab]

Real. Don't you support African insurrection?

I support all insurrections as long as they don't affect me. Call DeCaprio, I heard he has a source.

[Joshua01]

Looking forward to the insurrections. I have tons of ammo I'm looking forward to divesting myself of...one round at a time!
I support all insurrections as long as they don't affect me. Call DeCaprio, I heard he has a source.

[Horn]

Where's the trucks? Follow Swami to hidden treasure.

[latemetal1]

The Bankers boys intend to rob us, good diversification will slow them down.

[ziero0]

The Bankers boys intend to rob us, good diversification will slow them down.
It is impossible to cheat an honest man. Therefore if you feel that you have been cheated then it follows that you are not honest.

[hoarder]

Considering recent trends, the story might simply be fake news.

[Horn]

It is impossible to cheat an honest man. Therefore if you feel that you have been cheated then it follows that you are not honest.

Let me count the many ways.

https://youtu.be/YWOuzYvksRw

[hoarder]

You guys and your Jewspeak. The phrase "You can't cheat an honest man" comes from the concept that con artists bait their victims with the notion of getting something for nothing or getting something at a price far below it's market value. Standard operating procedure of the left.

[ziero0]

The phrase "You can't cheat an honest man" comes from the concept that con artists bait their victims with the notion of getting something for nothing or getting something at a price far below it's market value.

I sense no rebuttal. Doesn't this describe the welfare state? Aren't welfare people getting something for nothing? If you have the concept of paying for something with a debt instrument aren't you attempting to get something for nothing? And then to turn around and claim you have been cheated .... when if you actually were honest then you lack the capacity to be cheated.

[Horn]

No, ziero0

[Neuro]

Honest people get cheated all the time.

[Horn]

Honest people get cheated all the time.

Sure, its only that their complaints are at the wrong instance of being cheated. Which is only ignorant.

Ignorant people also include honest ones, who are cheated in most any case always.

Follow Swami to the hidden treasure. Boo!

[Horn]

Ignorance imo, would be purchasing gold at this point instead to silver, pfft.

Ps. Did I have 3/8 a quadrillion in yaks.

[Neuro]

It is impossible to cheat an honest man. Therefore if you feel that you have been cheated then it follows that you are not honest.

A version of the “True Scotsman Fallacy”.

[Horn]

A version of the “True Scotsman Fallacy”.

You either have a "True Scottsman" or not, there is no other "version"

Swangtang eek!!

[ziero0]

Honest people get cheated all the time.
You mistake honest with ignorant. This is a common mistake among the ignorant and the ignorant are taxed upon their ignorance.

[Neuro]

You mistake honest with ignorant. This is a common mistake among the ignorant and the ignorant are taxed upon their ignorance.

LOL nicely wielded ad hom. Kudos! ;D

[latemetal1]

It is impossible to cheat an honest man. Therefore if you feel that you have been cheated then it follows that you are not honest.

You can work hard all your life, but the bankers own the table, if you save in dollars, inflation will kick your ass, if you put your savings into to stocks, the market may bust, if you buy real estate, the neighborhood might change and you lose you money that way...Yes, you can cheat an honest man, and anyone who says different is either a fool or a liar...

[ziero0]

You can work hard all your life, but the bankers own the table, if you save in dollars, inflation will kick your ass, if you put your savings into to stocks, the market may bust, if you buy real estate, the neighborhood might change and you lose you money that way... What does work have to do with owning? I work for satisfaction, exercise, to help out, because I see work that needs done and nobody is doing it, to fill in spare time slots that would otherwise be boring.


Yes, you can cheat an honest man, and anyone who says different is either a fool or a liar...
Wise men are instructed by reason;
Men of less understanding, by experience;
The most ignorant, by necessity;
The beasts by nature.
Letters to Atticus[?], Marcus Tullius Cicero

Try to figure out where you fit in this spectrum.

[Horn]

No, ziero0


https://www.youtube.com/watch?v=-tRdBsnX4N4

[ziero0]

https://www.youtube.com/watch?v=-tRdBsnX4N4

In the current environment not owning something is much easier than supporting a claim to be an owner.

As I instructed the county assessor recently my state created a mirror county for every county in existence in 1866. That mirror county accepts only paper money while the original county could only ask for gold or silver (aka 'specie'). It is impossible to own anything at all in the mirror county. My letter led to the question (not expressed) 'why am I being taxed for non-ownership?'

[Horn]

Wise men are instructed by reason; why am I being taxed for non-ownership?'

Instructed - includes questions, some thing the assessor don't own.

[ziero0]

Instructed - includes questions, some thing the assessor don't own.
They insure that I receive due process. Due process begins with notice. A notice of tax owed is such a notice. The notice endows me with the right to inquire. If I don't inquire then I have blown my due process and it is off to hearing where my lack of inquiry will be noticed and judgment will be entered against me.

My inquiries require substantive responses. Non-responses are the favorite tactic and is a violation of due process.

[Neuro]

In the current environment not owning something is much easier than supporting a claim to be an owner.

As I instructed the county assessor recently my state created a mirror county for every county in existence in 1866. That mirror county accepts only paper money while the original county could only ask for gold or silver (aka 'specie'). It is impossible to own anything at all in the mirror county. My letter led to the question (not expressed) 'why am I being taxed for non-ownership?'

LOL, I don’t doubt that you are correct, so did he agree with you?

[Joshua01]

If this guy just bought all this physical gold why hasn't the law of supply and demand kicked and and sent gold prices soaring? Who writes this drivel?

[Neuro]

If this guy just bought all this physical gold why hasn't the law of supply and demand kicked and and sent gold prices soaring? Who writes this drivel?

I don’t think there is a billionaire who could suddenly get half his paper worth in cash to do this. It’s all tied up in assets, and if attempting to sell it on the open market it would plunge in value, they could in the short term perhaps broker some deals where they get a few percent perhaps 10% at the most of their overall net worth. It is not really believable. As I understand it the Hunt brothers accumulated their physical silver over several years, but I doubt at that time they didn’t have the capacity to monitor their ultra rich as they are today. I call bs on this too!

[Horn]

it is off to hearing where my lack of inquiry will be noticed and judgment will be entered against me.

Right there, that's where you'll get a response, Just before that you'll be asked "What's the wiseman's reason?"

Immediately following you'll be relayed to - many people wearing black and white stripes at that the other end of the spectrum

[ziero0]

LOL, I don’t doubt that you are correct, so did he agree with you?
She must have. She ceased corresponding. That is political speak for "I agree". In old speake this might be a plea called 'non assumpsit by way of confession and avoidance'.

[ziero0]

Right there, that's where you'll get a response

Not really. My due process comes to an end when I stop asking questions. Believe me when I tell you I have questions that need to be answered that you have never given a thought to.

[Horn]

Believe me when I tell you I have questions that need to be answered that you have never given a thought to.

And at most every sunrise, I awake grateful for that.


https://www.youtube.com/watch?v=HgVS1OhucbI

[Joshua01]

The guy was an amazing actor! One of my favorites when stuff coming out of Joollywood was still half decent. I hope he's resting comfortably with Gilda by his side.
And at most every sunrise, I awake grateful for that.


https://www.youtube.com/watch?v=HgVS1OhucbI