Goodman dumps bank shares, buys gold

The Financial Post reports Ned Goodman, founder and chief executive officer of holding company Dundee Corp., has dumped his bank stocks in favour of gold and other investments that will benefit from inflation.

Read: Gold bugs are bullish

“ ‘Our whole investment modus operandi is to get involved in those industries and companies that will gain from an inflationary event,’ Goodman, 75, said in an interview at Bloomberg’s Toronto office Aug. 1. ‘I’m more bullish on gold now than I’ve ever been.’ ”

Read the rest here.

Also read:

Gold and bonds: a fragile alliance

How much is a pot of gold worth?

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.