John Malone bets on currency devaluation, invests "substantial interests in multifamily"Nov 24, 2020
Liberty Media Chairman, John Malone went on CNBC this last week and discussed the current focus of his investment portfolio and the change in direction he's taken during the Covid pandemic.
As coronavirus stimulus is likely to come in future months, John predicts that the influx of cash will lead to a depreciation in currencies. "And I’ve got to believe this will lead to devaluation of currencies, that hard assets ... will increase in value in currency terms. I’m not sure I’m going to call this inflation, but it’ll look like and feel like inflation.”
With the historic $2 trillion dollar relief package passed in March, and the Federal Reserve cutting interest rates down to near zero--John Malone has turned to hard assets in an effort to diversify.
“I’ve been trying to invest or diversify into hard assets. You know, I think things I bought this last year, I’ve bought ...substantial interests in ... multifamily housing, primarily in the U.S.” CNBC also reported that the sales of newly built homes in August jumped to their highest levels in the last 14 years.