Thinking in Markets

S1E39 - Why Gold Stays Small in a Pension Portfolio


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Gold gets a great deal of attention when markets feel uneasy, but large U.S. pension funds usually keep it at the edge of the portfolio. Michelle and Vox unpack why liabilities, cash flow needs, governance, and portfolio construction make gold and especially silver a much smaller institutional bet than many retail investors expect.

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Thinking in MarketsBy Vox