Simon Mikhailovich: A Masterclass on Why and How to Invest in Gold (Outliers with Daniel Scrivner Ep. #25)

Simon Mikhailovich is the Co-Founder of The Bullion Reserve (TBR), a private vehicle that enables investors to hold physical gold across multiple jurisdictions outside the financial system. In this episode, Simon and Daniel discuss why gold is important in the current economy, how it maintains purchasing power over time, and important lessons from financial history.
Last updated
July 14, 2021
4
Min Read
Simon Mikhailovich is an entrepreneur and contrarian investor who predicted and profited from the financial crises of 2000 and 2008.
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“The most important thing is that technology evolves, but people don't. That's the biggest lesson of history—humans don't change.” – Simon Mikhailovich

In this episode of Outliers, I’m talking with Simon Mikhailovich (@S_Mikhailovich) about why gold is important in the current economy, how it maintains purchasing power over time, and important lessons from financial history.

Simon Mikhailovich is a contrarian investor and entrepreneur who is also the co-founder and lead manager of The Bullion Reserve (TBR), a private vehicle that enables investors to hold physical gold across multiple jurisdictions outside the financial system. Before starting TBR, he co-founded Eidesis Capital, was a Portfolio Manager at Falcon Asset Management, and with his deep understanding of financial history, predicted and profited from the financial crises of 2000 and 2008. 

Chapters in this interview:

  • 00:00:07 – Simon’s thoughts on gold’s role in the current financial market
  • 00:07:19 – Why gold is important at this moment in time
  • 00:14:22 – Cycles of financial euphoria
  • 00:19:06 – The three ways to get out of debt
  • 00:25:05 – Why holding physical gold is different and better than savings in other forms
  • 00:30:46 – Gold is the ultimate insurance for bad financial outcomes
  • 00:36:48 – Gold vs. other precious metals, and how gold is nature’s Bitcoin
  • 00:41:58 – Should people invest in gold ETFs?
  • 00:44:37 – Gold has no impairment risk or counterparty risk, and making money vs. preserving wealth
  • 00:48:01 – How personal experience vs. historical experience affects our investment decisions
  • 00:57:35 – How Simon has maintained an outlier point of view over time
  • 01:03:37 – Simon’s recommended books on financial history


For more explore the transcript of this episode.

Links from the Episode

Investment Terms

Books Recommended in This Episode

Key Takeaway

The most worthwhile reading, I think, is history—financial history. You can read about gold, you can learn everything there is to know about gold; that's not what it's about. It's about understanding history. It's about understanding, “What do you need to solve for? What are the potential outcomes?” If you have sufficient imagination of what the potential outcomes are, you don't need anybody to explain to you what to do about it. You will figure it out yourself.” — Simon Mikhailovich

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