Frank Holmes Tells CNBC Why Being Contrarian is Key
On news that Janet Yellen was selected as the new Federal Reserve chair, Martin Soong of CNBC’s Squawk Box Asia talks to Frank Holmes to get his view. As outlined in a recent commentary, Frank believes that the tapering of the Fed’s bond buying program will be dragged out and rates will stay low.
Martin also asks Frank what his investment theme is today. Frank says now is the time to be contrarian and take advantage of under-loved and underappreciated asset classes like energy and gold. “If you believe the PMIs are going to continue to rise—not at a rapid rate—but gradually rise, then you’re going to continue to see oil prices remain healthy and robust,” says Frank.
Watch the interview now to hear the entire discussion.
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The Purchasing Manager’s Index is an indicator of the economic health of the manufacturing sector. The PMI index is based on five major indicators: new orders, inventory levels, production, supplier deliveries and the employment environment. The S&P 500 Stock Index is a widely recognized capitalization-weighted index of 500 common stock prices in U.S. companies. The following securities mentioned in the interview were held by one or more of U.S. Global Investors Funds as of 9/30/13: Apple.