John Stepek
👤 SpeakerAppearances Over Time
Podcast Appearances
base level of gold inside the trust is about 10%.
And when things are worrying and difficult and inflationary and scary, he'll go up to maybe 13, 14%.
And when everything is kind of okay, he'll come down to 8%.
And I was trying to get from him why it is that 10% is his number.
Because, you know, gold, it's impossible to value, right?
It's impossible to know how much you should have in a portfolio.
And he said, well, the key thing is you need to have enough gold in your portfolio to make a difference when something goes wrong.
So don't bother with 1% or 2%.
This is meaningless nonsense.
But not so much that when things are going right, your performance is really dragged down.
And it's a subjective judgment.
And he's landed on about 10.
And there were a couple of other people in that group and someone else was like, oh, well, you know, my number is 20.
And I think my number is maybe seven.