By Vern Gowdie – Gowdie Family Wealth (Australia) –
In recent times, we’ve focused on investing in your family. This week, let’s take a look at the wealth side of the equation.
The three investment positions we have are cash, gold and GBP (British pound).
With a large percentage of the portfolio allocated to cash, it’s critical to review the allocation to this asset class.
With the Federal Reserve looking likely to raise the US cash rate by 0.25%, there’s speculation this symbolic move could ripple through to global cash rates.
My view is this speculation is incorrect.
The risk of a global credit crisis — more devastating than that of 2008 — increases with every passing day.
This brief state of play forms the basis of my more sober outlook.
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