Hard assets are the likely benefactors of the U.S. sovereign debt downgrade on Friday. U.S. Treasury debt was sent to the minor leagues on Friday by Standard & Poor’s and is now rated AA+.
Joel Smolen, hedge fund manager at Axion Capital in San Rafael, says hard assets like gold, silver and equities of mining and metals companies in countries like Australia and Brazil are the places to be following the U.S. credit downgrade.
Joel Smolen, hedge fund manager at Axion Capital in San Rafael, says hard assets like gold, silver and equities of mining and metals companies in countries like Australia and Brazil are the places to be following the U.S. credit downgrade.
