MarketWatch/Steve Goldstein/6-20-2022
“It’s been a 35-year bond bull market, so that’s going to be a big shock that is going to test I think financial institutions who’ve been hedged, who’s been writing derivatives they shouldn’t write, who’s been stepping out to take greater risks in their portfolio, because if you can’t make it in bonds, people try to make it somewhere else.” – Seth Klarman, Baupost Group
USAGOLD note: Buried toward the bottom, Klarman says he sees value in gold “for safety … it does have the history, it’s very hard to extract, it’s random that somebody settled on gold and that we couldn’t get more than this very limited supply that we have.” MarketWatch refers to Klarman as an “investment legend.”
