Insights from Tocqueville
What’s So Great About Private Equity?
By Robert Kleinschmidt on March 31, 2016
Over the past few decades, private equity has gained cachet among investors much the way hedge funds did in an earlier era. Many of today’s investors believe that private equity represents a new and superior asset class. But it is neither. Far from new, it is the oldest form of equity investing. As for superiority, …Read More
By Paul Kleinschmidt on September 17, 2015
Buyer beware: ETF’s may not be what they appear Exchange Traded Funds (ETF’s) have been all the rage the past few years as money has flowed out of actively managed portfolios and into investment vehicles that mirror various indices. After all, portfolio managers rarely outperform the broader stock indices and the overwhelming majority of actively …Read More
It’s Never Too Early
By Michael Meltzer on March 24, 2014
Roth 401(k)s and Other Fun Stuff As one of the younger portfolio managers at Tocqueville, I tend to focus a lot of my time on developing investment strategies for my peers. Unfortunately, most people don’t start thinking about their retirement until they are in their forties. Better late than never, but I believe there is …Read More
Tocqueville Gold Strategy Fourth Quarter 2017 Investor Letter
By John Hathaway on January 3, 2018
Gold: Connecting the Dots Gold rose 11.63% in US dollar terms in 2017, an excellent year for the metal. More important, it has been the top-performing asset since the dawn of radical monetary experimentation by world central banks in 2000 (better than equities, bonds, and other key commodities). The US dollar, anointed “King Dollar” by …Read More
Tocqueville Gold Strategy First Quarter 2018 Investor Letter
By John Hathaway on April 4, 2018
Gold’s Dot Plot The Fed dot plot, published after every Fed meeting, shows where each of the 16 members of the FOMC (Fed Open Market Committee) expect interest rates to be at the end of the various calendar years displayed, as well as the peak level of rates upon completion of the tightening cycle. From …Read More
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