“Leuthold Core (LCORX), his flagship fund which actively manages its asset allocation, lives in the top 1% of stock/bond hybrid funds with consistently “high” returns.
After the middle of 2010, though, he thinks the chickens will come home to roost: government overspending (past, present, and – he fears – future) will substantially debase the U.S. currency. As a result, he’s already adding more physical gold holdings to his portfolios: 2.5% now but likely to hit 10% by 2011. Non-dollar based assets – including Brazilian bonds – consume 45% of his asset allocation and seem likely to remain there.”
