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Bethlehem, Pa., March 12, 2008—Investing in gold is the best way of diversifying your portfolio during a difficult and unstable economic environment and a safe haven from paper currencies, according to personal financial specialist John D. Rossi, III, associate professor of accounting at Moravian College. “Stocks provide the opportunity for growth, bonds produced income, and Gold, as well as other precious metals, protected against inflation, devaluation of the dollar and financial chaos,” explains Rossi. “As the stock market climbed, stocks dominated most portfolios, pushing bonds to the back burner and gold out of the picture—but that is no longer the case.”
Is it too late or a prudent time to return to a portfolio that includes gold for diversification? “That is the on many investors minds these days,” Rossi notes. “From its 2002 low of $278.40, Gold has risen more than 220% through early 2008 and is now approaching the $1,000 mark.”
“Prior to August 15, 1971, there was no period in world history when there were no paper currencies backed with Gold,” Rossi explains. “With no safe escape to paper currency backed with Gold, world capital markets have experienced 35 years of economic, monetary, and financial upheaval.”
“The functioning of the U.S. Dollar depends on the continued belief that the debt upon which it is based will, someday, be repaid,” Rossi continued. “The foundation of our financial monetary system is nothing more than the ‘American Dream.’ The idea that people can borrow and spend their way to affluence is unraveling much faster than are the paper markets on which we depend.”
Rossi is a seasoned and proven accountant, financial planner, business leader and lecturer with twenty-five plus years of business and academic experience. . Rossi has led a career that included several regional CPA firms and extensive teaching. He founded the CPA firm of Rossi & Co in Allentown, Pa. and later merged his firm with Ellwood & Company, PC. Today, Rossi is an associate professor of accounting at Moravian College in Bethlehem, Pa. Rossi is also president of JR3 Management Services, PC specializing in financial reporting, taxation and consulting services.
Rossi is the author of several articles related to his research interest in the area of financial reporting, taxation and personal finance. He has been quoted extensively in newspapers and magazines on issues related to his expertise. In addition, he is a frequent presenter on technical and management issues at workshops and Continuing Professional Education Seminars.
Rossi holds an M.B.A. from Moravian College, and a B.S. degree in Accounting & Finance from La Salle University. He holds the following professional certifications: CPA (Certified Public Accountant); CMA (Certified Management Accountant); CFM (Certified in Financial Management); and CFP® (Certified Financial Planner).