Gold, Stocks and Real Estate: A 2020 Forecast with Nick Barisheff

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We met with Nick Barisheff, CEO of BMG Group, and fellow Seeking Alpha author, for his thoughts on the economy and the major investment asset classes . Our conversation included the following key topics:

Investment Classes:

  • Discuss how GLD fund shares do not provide real claims on gold, and further how the fund uses leased gold whose ultimate owner is not the fund itself.
  • Discuss the average investor portfolio in 60/40 stocks and bonds and what risk that brings in a deflationary market.
  • Discuss the opportunity that mining stocks and REITs will present after a stock market crash.
  • Discuss why he believes we will hit $3000 gold year end.
  • Discuss his 20 year relationship with Scotia and their surprise closing of gold trading desk this week, and how that will affect gold trading.

Economy:

  • Nick provides his feedback on how jobs will extend losses to many areas within the economy.
  • He shares why he believes commercial rental property will end up in a bloodbath.
  • We are in a triple bubble of real estate, equity, and bonds which is the first time this has occurred in his 40+ years in the market.
  • Nick believes that the next leg down in this market will be bigger than 1929.
  • Nick sees a pending derivative led insolvency at Deutsche Bank and HSBC. These banks cannot be bailed out due to out-sized derivative exposure.

 

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