by James Rickards
Daily Reckoning
I believe that we’re heading for another liquidity crisis or financial crisis. That doesn’t mean it’ll happen tomorrow, but there are disturbing signs that it might not be too far off.
It doesn’t mean the world’s going to end. But investors who aren’t prepared could see large portions of their portfolios wiped out. It could take years to rebuild them, and many investors just don’t have the time to recoup those losses.
But how do you prepare? You might want to start by looking at how “old money” preserves its wealth. Today I want to explore that.
On a cool evening in the fall of 2012, I joined a private dinner in Rome with a small group of the world’s wealthiest investors.