Want to be a gold bug? Worried about negative interest rates? Eager to get started on trading options for your own account?
This week’s Money Show, which takes place Thursday through Saturday, may be for you. It will happen at the Philadelphia 201 Hotel, 201 N. 17th St., and is open to the public. More information is available at www.moneyshow.com.
It’s free to register, although some of the seminars charge a fee, and you’re trading away your email address to associated marketers.
If you can stand that, some prominent speakers include the anti-annuity king and registered investment adviser Ken Fisher, as well as Dennis Gartman, editor and publisher of the Gartman Letter, who will discuss his views on the economy, the China-U.S. trade war, and the surprising phenomenon of negative interest rates.
Yes, some banks around the world — though not yet in the United States — are actually charging customers a net fee for deposits.
“It’s the most abundant nonsense I’ve ever seen,” Gartman said. “I believe we’ll look back and say, ‘What the hell were we thinking?’“
Gartman owns corporate and high yield bonds for his own account, using exchange-traded bond funds and some individual corporate debt issues. He’s also a bull on gold and silver and holds the Sprott Physical Gold and Silver Trust CEF in his portfolio.
“I’m not a gold bug. The world’s not coming to an end. There are times to be long and times not to own precious metals. Now it’s time to be long gold aggressively,” he said. He recommends owning gold in euro currency, and for “the average retail investor, you can buy, say, GLD [SPDR Gold Trust ETF] and sell short the FXE” currency funds.
Gartman is avoiding equities for the most part. “At 69, it’s terribly important that I sleep well. Because of my international indexes being in a bear market since January 2018, I see no great imperative to be long equities,” he said.
Gartman also takes a dim view of the increasing student loan burden, which he says is “taking millennials out of the housing market and the child market. The U.S. is going to be underpopulated. It’s one of the reasons I get upset with my fellow travelers on the right. We need immigrants more than we’ve needed them ever before. I’m right of Genghis Khan, but in the countries that are growing, you need more consumers buying houses and cars and building more roads.”
Other speakers specializing in options — derivatives that allow investors to buy or sell stocks at some point in the future — include Tom Sosnoff; Jeanette Young, author of the Option Queen newsletter; and options trading veteran Larry McMillan.
“Options to me are the most flexible product out there. You could basically do anything you want,” said Young.
Yours truly will appear on a panel Saturday titled “Robo-Investing vs. Financial Planners” at 9:15 a.m., with speakers Hilary Kramer, editor of the GameChangers newsletter, and Lyn Alden Schwartzer, analyst with FATRADER. The panel is organized by www.FemaleFinancialFreedom.org.
Other investor education events taking place this week include the new Philadelphia chapter of 100 Women in Finance (website: 100women.org), which hosts an event in Center City on Wednesday at the offices of UBS Financial Services, BNY Mellon Building, 1735 Market St., Fifth Floor.
Registration is required; the event starts at 5:30 p.m., and speakers include Emily Turner of Goldman Sachs and Ellen Yin of High Street Hospitality Group.
For those unfamiliar with the group, 100 Women in Finance was formed initially as 100 Women in Hedge Funds, but broadened the mandate to include all women working in the financial field.
Also this week, the American Association of Individual Investors (AAII) Philly chapter hosts Wade Pfau on Friday at 4:15 p.m. at the Philadelphia 201 Hotel.
His talk is titled “Understanding How Different Types of Annuities Work.” Pfau is a professor of retirement income at the American College of Financial Services in Bryn Mawr and a principal for McLean Asset Management. The event is free. For registration, visit www.aaii.com/localchapters.
For those who want to educate themselves on a regular basis, AAII Philadelphia offers seminars monthly in addition to chapter meetings:
Computerized Investing: Free Library of Springfield Township, 8900 Hawthorne Lane, Wyndmoor from 10:15 a.m. to 2 p.m. on the third Saturday of the month. Members help each other sharpen their computer skills to improve investment results.
Mutual Funds: Bala Cynwyd Library, 131 Old Lancaster Road, from 7 to 9 p.m. on the second Tuesday of the month. Examine mutual fund newsletters, software, member portfolios, and decision processes.
Options and Strategies: Easttown Library, 720 First Ave., Berwyn, from 7 to 9 p.m., usually on the first Tuesday of month. How to use options in portfolio management, like income supplementation and asset protection.