Argonaut's Norris: Why I am hedging against further QE

Argonaut Capital's Barry Norris is taking positions in Swiss property and increasing exposure to gold miners within his funds, claiming more QE is almost inevitable.

The manager of the £322m European Alpha fund - who split his company from Ignis earlier this week - said efforts from US and European policymakers to work their way out of the debt crisis meant more stimulus was a virtual certainty. He has therefore been upping his exposure to assets which act as a hedge against central banks printing money, such as the Swiss franc. "Interest rates (in Switzerland) are at zero as the central bank is trying to discourage investment in the Franc. This is leading to a favourable backdrop for property investment and is a hedge against printing money, whic...