Financial Advisors Of The Tea Party Holding Course On Allocations

Tuesday, August 02, 2011 06:03
Financial Advisors Of The Tea Party Holding Course On Allocations

Tags: Congress | Treasury bonds | U.S. economy | values

As far as advisors affiliated with the Tea Party are concerned, the prospect of a U.S. debt default is just par for the course. They aren't changing their clients' allocations.

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Some of the highest-profile financial advisors in the Tea Party have been keeping their clients right where they were.


No mass dumping of Treasury bonds, stocks, or other dollar-denominated assets.


No gold hoarding -- they say "worry" and a "bubble mentality" have already pumped bullion prices too high.


And if anyone is converting their clients to disaster-oriented bear market funds, they're not talking about it.


Instead, these advisors generally seem to be recommending commodities and old-fashioned U.S. equities.


One exception: Peter Schiff says he's dumped everything that trades in dollar terms -- stocks, bonds, all of it -- but he did that awhile back.


In a world where media pundits with Tea Party affiliations pump gold to the horizon, it's enlightening to see what the advisors are doing.


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