“只买不卖”！“香港巴菲特”将四分之一的财富投入黄金

Core Viewpoint - The article highlights the investment strategy of Cheung Hai, known as the "Hong Kong Buffett," who allocates a significant portion of his wealth to gold, far exceeding the average allocation among peers, and adheres to a "buy and hold" strategy without trading or using derivatives [1][2]. Group 1: Investment Strategy - Cheung Hai has allocated approximately 25% of his family office assets, totaling around $1.4 billion, to precious metals, particularly gold, while the average allocation among family offices is only 2% [1][2]. - His investment in precious metals began with small amounts in 2008, leading to substantial purchases of physical gold ETFs ten years later, resulting in cumulative gains of $251.1 million and a growth rate of 167% [1][2]. - He recommends an investment portfolio consisting of 60% stocks, 20% bonds, and 20% precious metals, primarily gold, citing geopolitical tensions as a driving force for gold and silver [1][2]. Group 2: Historical Context and Performance - Cheung Hai's significant gold purchases were funded by selling shares of his company, Wei Li Group, before a major market correction in 2015 [4]. - He launched the Value Gold ETF in 2010, storing physical gold in Hong Kong, and remains the largest shareholder of the fund, valued at approximately HKD 1.3 billion ($167 million) [4]. - The prices of gold, silver, copper, and tin reached historical highs in early 2026, driven by anticipated easing policies from the Federal Reserve, political pressures from the Trump administration, and ongoing geopolitical tensions [1][4]. Group 3: Market Trends and Insights - Cheung Hai believes that the world is entering a period of large-scale "vault migration," with wealthy Asian families increasingly moving their assets back to the region to avoid U.S. sanctions or potential asset seizures [4]. - He emphasizes that owning physical gold is a secure way to store wealth, as it does not rely on any third party [4][5]. - The article notes that some Asian family offices are bypassing intermediaries to trade physical gold directly, reflecting a growing trend in precious metal investments [5].