07 Apr CMG Total Portfolio on theStreet
Gold has been shining so far in 2016, rising 16% compared to a flat S&P 500. Blumenthal does not expect gold to lose its luster anytime soon. “We view gold as a hedge against the irresponsibility of central banks,” said Blumenthal, adding that it is in a “cyclical bull trend.” Blumenthal has a 5% gold weighting within CMG’s total portfolio solution, owning the Van Eck Merck Gold ETF (OUNZ) . He said he could take that position up to 10% considering the precious metal’s momentum. He is also bullish on the SPDR Dow Jones REIT ETF (RWR),, which is up 3% so far this year thanks in large part to increasingly dovish talk by the Federal Reserve.