At the beginning of every new year, public renowned investors share the top picks with the media. The idea is that others can benefit from their insights. Byron Wien is the perfect example. He still needs to share his ideas with MSNBC and other financial media outlets.
So what does it make that Gold is a bet? Wien already commented he is positive on Gold.
Well, there are a few things. First of all, there is the risk of inflation. This could come from the costs associated with the USA debt. The USA debt is mainly short term debt. So it makes it very vulnerable for a spike in interest rates.
Then we come at another risk. As we are in an election year. This means that there is the risk of an unexpected candidate winning the nomination and even the election. This would mean a drastic decline in share prices.
When all confidence goes away people tend to move to safe havens. Like Gold.