Gold Is Bigger Bubble Than Tech, Says $63 Billion Asset Manager
- Carillon Tower’s Matt Orton sees more growth in tech stocks
- Recommends overweighting equities with proper diversification
Carillon Tower Advisers Inc. portfolio specialist Matt Orton says the excitement around gold has made it a bigger bubble than tech stocks.
Photographer: Paul Yeung/BloombergThis article is for subscribers only.
Carillon Tower Advisers Inc. portfolio specialist Matt Orton is a rare critic when it comes to gold’s meteoric rise this year. He says excitement around the metal has made it a bigger bubble than tech stocks.
Orton, who is “quite bullish” on tech stocks, thinks the price of gold has gotten disconnected from fundamentals. The flow of funds into gold “shows how much enthusiasm and/or speculation has been going into the gold complex,” Orton said in an interview. His firm has more than $63 billion under management and is based in St. Petersburg, Florida.