Buying gold during a recession may not be the best investment, James Altucher, managing partner of Formula Capital, told Yahoo! Tech Ticker.
"I’m so bored of gold already — it's just a rock. I don't like betting on things where there's just one premise — 'Everybody's going to panic so let's buy gold,'" he said.
Investors should instead invest in stocks that are related to the price of gold and hold their own upside, Altucher said.
One of his recommendations is Cash America, the national pawn shop retailer. Altucher said the shops have the "best business model on the planet" by making borrowers pay high interest rates. (more)
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