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#19: Simon Mikhailovich on the Ultimate Insurance Policy: Gold

Superinvestors and the Art of Worldly Wisdom

CHAPTER

The Importance of Risk Management in a Financialized World

The Social Security Trust Fund is funded with US Treasuries. That means that the Trust Fund is going to have to start selling down some of these Treasuries in order to pay the pensions, right? "I don't necessarily think of gold or bull market and gold in terms of its price," he says. I think of it as a relative purchasing power - what does $10,000 buy in that environment?

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