To Jeffery Born, a professor of finance at the D’Amore McKim School of Business at Northeastern University, gold’s big decline didn’t come as much of a surprise.
Born said he decided two years ago stocks were the best long-term investment. The problem with gold? It pays no dividends, costs money to store and includes the risk of being stolen, he said.
It’s a “sucker’s investment/bet,” he said in a recent email.
Born’s critique is nothing new. But many gold bulls remain faithful.