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Wednesday, January 13, 2010

Ex-Eagles owner Norm Braman: 'Buy gold'

Web editor David Ralis was up too late last night, and he noticed this on Forbes.com: an interview with ex-Eagles owner Norman Braman, Palm Beach-based auto dealer, holding forth on the economy (he fears inflation) and investments (he's buying gold, not stocks): "When (2007 mortgage bear John) Paulson set up his gold fund, I put some substantial money into it." Of course, Braman also believed in Bernie Madoff.

Posted by Joseph N. DiStefano @ 8:28 AM  Permalink | 7 comments
Comments   
  • 0 like this / 0 don't   •   Posted 9:34 AM, 01/13/2010
    ....and he gambled away an NFL franchise. Don't listen to anything this guy says.
    — The Boston Strangler
  • 0 like this / 0 don't   •   Posted 9:54 AM, 01/13/2010
    That was Leonard Tose, not Braman.
    — bdogg
  • 0 like this / 0 don't   •   Posted 10:04 AM, 01/13/2010
    Gold is at an alll time high just like the real estate market was before it crashed. It's in Braman's self interest for people to buy gold so the price keeps going up. I've never heard of a buy high, sell low strategy working out. If he bought gold in 2007, he's made lots of profit already. Must be nice to make a living by shuffling paper around.
    — MikeP
  • 0 like this / 0 don't   •   Posted 10:19 AM, 01/13/2010
    The next time one of you Eagle dopes complains about Lurie & Co. just think back to when this clown ran the show. He was a disgrace.
    — tdcuse
  • 0 like this / 0 don't   •   Posted 10:31 AM, 01/13/2010
    Well, it seems Norman may have used "the Gold Standard" in his sales pitch the carpetbagger Lurie........
    — Earl J
  • 0 like this / 0 don't   •   Posted 11:18 AM, 01/13/2010
    Buddy called him "that guy in France". Ha!
    — walter sobchak
  • 0 like this / 0 don't   •   Posted 11:44 AM, 01/13/2010
    The problem with gold is that it will never be anything more than a vestige of a bygone era of when knights were bold and it rhymed with gold. Other than that usage, there is not now or ever will enough gold to be used as a currency in global economies where trillions upon trillions of dollars are needed to circulate on a daily basis. The need for a store of value has outstripped the supply of gold, rendering it useless in the 21st century. The abstract 0 and 1 in server farms for the financial services industry is the new currency.
    — Fernando08


7 comments
About Joseph N. DiStefano
Joseph N. DiStefano writes this blog to feed his PhillyDeals column in the Philadelphia Inquirer. Joe has been a member of Bloomberg LP’s New York Finance Team, wrote the book “Comcasted,” taught writing at St. Joseph’s University, and studied economics and history at Penn. Reach Joe at 215-854-5194 and JoeD@phillynews.com
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