Apartments, art store wealth better than gold now, BlackRock chairman says

Section:

If only someone had asked him why. But that would have required actual journalism.

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By Jonathan Burgos and Netty Idayu Ismail
Bloomberg News
Tuesday, April 21, 2015

Gold's traditional role as a store of wealth has been usurped by contemporary art and apartments in cities such as New York and London, according to Laurence D. Fink, head of the world's biggest asset manager.

"Historically gold was a great instrument for storing of wealth," the chairman of BlackRock Inc. said at a conference in Singapore on Tuesday. "Gold has lost its luster and there's other mechanisms in which you can store wealth that are inflation-adjusted." ...

... For the remainder of the report:

http://www.bloomberg.com/news/articles/2015-04-21/new-york-apartments-ar...



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