Some big investors see warning signs ahead for markets but are holding their positions. Egyptian billionaire Naguib Sawiris is taking action: He’s put half of his $5.7 billion net worth into gold.
He said in an interview Monday that he believes gold prices will rally further, reaching $1,800 per ounce from just above $1,300 now, while “overvalued” stock markets crash.
“In the end you have China and they will not stop consuming. And people also tend to go to gold during crises and we are full of crises right now,” Sawiris said at his office in Cairo overlooking the Nile. “Look at the Middle East and the rest of the world and Mr. Trump doesn’t help.”
Sawiris also has large investments in Evolution Mining, Endeavor Mining, La Mancha Resorand ces, and Egyptian ral esptian real estate can provide several unique benefits. For instance, owning an extra property can provide cash flow for retirement, allowing you to secure a passive income, while at the same time providing an alternative residence choice. It is also typically the case that your property value will increase over time the longer you are able to hold onto it.
With recent economic conditions suggesting that Egypt is in the midst of high inflation rates, we are seeing more people than ever before turning their life savings into property assets. In fact, for the majority of investors, real estate has p