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Gold is a sterile asset that yields neither interest, dividends nor rentals and costs money to hold, but its price has surged to record levels, doubling since 2001. Why? Who is buying it and what are their reasons? How is its performance linked to the condition of the world economy and, especially the health of the US dollar? And, most pressingly, how can you decide whether it represents a useful way of diversifying your portfolio, an asset you should include in your pension provisions - a good investment or an overvalued bandwagon?
Goldwatcher explains the pros and cons of gold as a twenty
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Produktbeschreibung
Gold is a sterile asset that yields neither interest, dividends nor rentals and costs money to hold, but its price has surged to record levels, doubling since 2001. Why? Who is buying it and what are their reasons? How is its performance linked to the condition of the world economy and, especially the health of the US dollar? And, most pressingly, how can you decide whether it represents a useful way of diversifying your portfolio, an asset you should include in your pension provisions - a good investment or an overvalued bandwagon?

Goldwatcher explains the pros and cons of gold as a twenty first century investment - when investing makes sense, when prices make sense and when they don't. The book addresses everything the independent investor needs to know about investing in gold. It addresses gold's history as a repository of value; what drives supply and demand, why and how the US dollar and global macroeconomic factors affect gold price, how experts in the filed of money management see its prospects and when prices are reasonable. Situations are explained in which gold will be invaluable to investors as stateless money that keeps its value even in the worst of times; a niche investment with value underpinned by scarcity; an investment to include in a portfolio to spread risks; and a suitable investment to include in pension provisions.

As unbiased analysts the authors are neither bulls or bears, rather they examine different scenarios that could play out in currency and financial markets, the effects they would have on investors, and what investors can do to protect themselves from adverse developments.
Why did the price of gold hit record highs in 2008? Take a look at the headlines

Government bailouts of failed banks, mortgage and credit crises, rising inflation, slowing growth and global insecurity. In order to protect themselves from treacherous financialmarkets and depreciated paper currencies investors worldwide are turning to gold.Gold has long been used as money and as a store of wealth, but what's the source of its value? Why does that value sometimes rise so high and at other times fall so low? And what do we know about gold's complex and often tumultuous past that may yield clues about how it may behave in the future?

Gold is a side show on a world financial stage dominated by the dollar. The tail can't wag the dog -gold prices are affected by changes in prospects for the dollar and not vice versa. With uncertain outcomes for the American and global economies, gold's stateless money franchise makes this book compelling reading.

"John Katz is a clear eyed independent strategist and analyst with an extraordinary ability to get to grips with subjects ranging from biotechnology via alternative energy to commodities and gold. Uniquely for a commentator on gold he has no dogmas. To assess the risks and rewards that come with owning gold he introduces opinions from an impressive range of commentators, examines different scenarios that may play out on the world economic stage and highlights situations when owning gold makes sense and when it doesn't. To complete the picture Frank Holmes's contribution to The Goldwatcher explains the risks and rewards. The Goldwatcher has been written for 21st century investors. It will be an indispensable resource for responsible people from institutional money managers to private savers - whether the gold price moves up, down, or sideways."

Patrick H. Spencer, Managing Director, Head of Institutional Sales, Robert W. Baird Limited, London.

"Frank Holmes's stellar track record asa resource portfolio manager is a clear reflection of his understanding of the business, the markets and the factors that affect them. His success is as much about unearthing value as it is about creating an investment process that is religiously followed. If you want to succeed in your resource investment,this book is a must. It's all the more enjoyable because the writing style is easy-going,clear and understandable."

Pierre Lassonde, Former chairman, World Gold Council, and past president,Newmont Mining Corp.

This book is also supported by The Goldwatcher blog - http://wwwthegoldwatcher.com, which addresses news and developments affecting gold and the dollar, updates statistical information and links with sources for data and commentary.
Autorenporträt
John Katz is an analyst, strategist and financial writer based in London. To gain experience and qualifications in the Financial Services Industry he completed the necessary exams to qualify as an approved Securities Dealer and Trader and, while working for a hedge fund in London, was accredited by the United Kingdom Regulatory Authorities. He has contributed articles to the financial press,commentated for business television and is the author of Portfolio 2001 - How to Invest in the World's Best Companies published by Random House Business Books in 1999. Frank Holmes is CEO and Chief Investment Officer at U.S. Global Investors,Inc., which manages more than $1 billion in precious metals funds and provides advisory services to international clients.He was Mining Journal's fund manager of the year in 2006, and is a prominent speaker at investment conferences and a regular commentator on financial broadcast networks. Mr Holmes has more than 30 years' in the investment field.
Rezensionen
"In these troubled times, the insights could be invaluable." City A.M. Thursday 26 June 2008
"Katz & Holmes take over where Peter L. Bernstein's modern classic The Power of Gold left off... particularly timely." Spectator Business July 2008