Jaime Carrasco: Preparing for a Monetary Reset with Gold and Safe Haven Assets
Tom welcomes returning guest Jaime Carrasco of Canaccord Genuity to the program. Jaime discusses asset allocations in their portfolios and why many investors in various funds have little or no exposure to the precious metal sector. It can be difficult for many money managers to provide exposure to precious metals for their clients. Canaccord’s Special Opportunity Portfolio is structured for that purpose.
Jaime discusses a couple of charts that demonstrate the performance of gold and mining equities in recent months. They show a relative comparison between various possible investments like gold, miners, and the Dow going back to 2018.
There appears to be a gradual restructuring occurring behind the scenes. Jaime anticipates a reset to a new hard money backed system. He expects Trump to focus on what works for the United States and not just Wall Street.
Time Stamp References:
0:40 – Their funds and asset allocations.
8:10 – Structure within their portfolios.
13:10 – Charts comparing relative performance.
17:00 – Trump moved power to the treasury.
19:30 – Next Fed Chair could be sound money advocate.
22:20 – Previous global financial restructuring.
26:20 – Comex/LBMA and lack of physical.
29:50 – Having reserves in the ground in your portfolio.
32:00 – Blockchain & Trust and global restructuring.
Talking Points From This Episode
• Asset exposure, portfolio weighting, and gold exposure.
• Two charts comparing relative investment performance.
• Currency reset to hard assets.
• Commodity exchange risks and concerns regarding SLV, GLD, etc.
• Why blockchain provides an alternative to the banking system.
Jaime Carrasco is portfolio manager at Canaccord Genuity Inc. in Toronto. From 2014-2018 he worked as Director of Wealth Management and Associate Portfolio Manager for ScotiaMcLeod. Before this, he worked for Macquarie Group, CIBC Wood Gundy, BMO Nesbitt Burns, Gordon Capital, and Merrill Lynch.
Jaime is a leading Canadian investment professional with 25 years of experience providing wealth management and investment counsel to affluent families, businesses, and institutions. He has garnered a reputation for questioning and challenging the status quo and exploring the most innovative investment strategies.
Jaime, whose mother tongue is Spanish, also speaks Italian and French and completed a BA in political science and economics at the University of Toronto in 1988. While a student, he worked for CS Yacht, a company that built luxury sailboats, thus spending his summers as a skipper for members of the Canadian establishment. Jaime credits this experience and having survived sailing through Hurricane Bob in 1991. This experience taught him lessons that have become a metaphor for his financial investment strategies.
“Like one’s financial wealth, sailing is not about controlling the wind, but rather about adjusting the sails.”