Donald P. Gould

Personal Finance, Investing, Taxes
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“Don Gould is the president and chief investment officer of Gould Asset Management, which he founded in 1999.”
Firm:

Gould Asset Management

Job Title:

President and Chief Investment Officer

Biography:

Don brings to the company a broad understanding of both the business and the practice of financial asset management, gained over three decades of industry experience. Don is recognized for his continued development and application of innovative investment strategies designed to meet the needs of real-world investors.

In 1985 Don founded the Huntington Funds, a pioneering group of globally-oriented mutual funds based in Pasadena, California. He joined Franklin Templeton Investments in 1993 upon its acquisition of the Huntington Funds. At Franklin Templeton, Don was president and portfolio manager of the Franklin Templeton Fund Allocator Series, a group of three actively managed global asset allocation funds. He also served as managing director of Templeton Worldwide, Inc. and was responsible for overseeing the establishment of asset management companies in Sao Paulo, Brazil, and Cape Town, South Africa.

Don holds a BA in economics from Pomona College and an MBA from Harvard Business School. He is a visiting lecturer in portfolio management at the Robert Day School of Economics and Finance at Claremont McKenna College, and previously served as an adjunct professor of finance at the Peter F. Drucker and Masatoshi Ito Graduate School of Management at the Claremont Graduate University. Don is a trustee of Pitzer College, chairing the Board's investment committee. He is a former president of both the Pomona College Alumni Association and the Rotary Club of Claremont, and has served on numerous non-profit boards. In his free time, Don enjoys travel, classical music, film and sports.

Education:

BA, Economics, Pomona College
MBA, Finance, Harvard Business School

Assets Under Management:

$460 million

CRD Number:

1091473

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How can I invest in gold?
92% of people found this answer helpful

Most gold investments fall into three categories.

1. Physical gold in your custody. This usually will take the form of gold coins, such as the one ounce South African Krugerrand or the one ounce American Gold Eagle. You can buy the Gold Eagle directly from the US Mint, but at a substantially higher price than offered through gold coin dealers, so I would not recommend buying directly from the Mint. That said, be sure you are buying from a reputable dealer, either in person or through the Internet. There have been instances of counterfeit gold coins. Gold coins obviously require safekeeping - either a home safe or a safe deposit box. If you're holding gold for an "end-of-the-world" scenario, arguably you should not leave them in a safe deposit box that might be inaccessible in a crisis.

2. Gold ETFs (Exchange Traded Funds). Gold ETFs (such as GLD and IAU) are a special kind of mutual fund that invest directly in gold bullion. The physical bullion is held in safekeeping by an independent custodian, for example, in a bank vault in London. Independent accountants must annually verify the ETF's gold holdings as part of their audit. You can buy and sell gold ETFs through any brokerage firm. The shares are very liquid, and the transaction costs through discount brokers (Fidelity, Schwab, etc.) are minimal. The value of your shares will very closely track movement in the market price of gold. In addition, you can buy or sell call or put options on gold ETFs (and also sell short), meaning you can implement complex strategies for almost any market view. Gold ETFs are the easiest and most cost-effective way to invest in gold. However, as the ETF owner, you do not have (and are not entitled to) physical custody of the gold itself. If that's important to you, option 1 above is preferable.

3. Gold mining stocks. These are stocks of companies that are in the business of gold mining. Generally, gold mining stocks rise and fall faster than the price of gold itself, making these a higher risk, higher potential gain/loss way of investing in gold. In addition, individual gold mining companies are subject to risks unrelated to the price of gold, such as  political, environmental, currency and labor relations risks. 

Bottom line: if you are buying gold as part of a portfolio diversification strategy, the gold ETFs are the best way to go. If you are buying gold as a potential store of value in the event of a system-wide crisis, you will want to own and hold the physical gold yourself.

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