First Eagle's Case for Holding Gold
First Eagle's Abhay Deshpande says the funds' gold holdings are protection against the world governments' race to debase their currencies.
John Coumarianos: Another unique thing about all the First Eagle portfolios is that you will hold cash when you are not finding values the way some value investors will. But in addition to holding cash – I know you get this question a lot, but you also hold some gold, you have an attraction to precious metals. Give us – make the case for that, because it's not often that one sees the value investor own gold?
Abhay Deshpande: Yeah, you can almost take the value out of there. It's not too many investors that own gold.
John Coumarianos does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.