@article {Nigro10, author = {Mike Nigro}, title = {The Ultimate Safe Haven}, volume = {23}, number = {3}, pages = {10--13}, year = {2020}, doi = {10.3905/jai.2020.1.119}, publisher = {Institutional Investor Journals Umbrella}, abstract = {Perceived safe-haven assets are not guaranteed to produce positive returns in all market downturns. For example, non-cash safe havens, such as gold and Bitcoin, can be wildly volatile and unpredictable, even during market crises. Cash as a safe haven also carries risk in that it can lose value in the event of currency devaluation or inflation. The volatility of non-cash safe havens and the potential for currencies to lose value in severe market crises presents investors with the difficult task of identifying the ultimate safe-haven asset(s) for their portfolios. In selecting the safe-haven assets that best meet a program{\textquoteright}s needs and long-term objectives, it is important to understand the risk exposures that financial safe havens carry and to consider diversifying safe-haven exposure so as not to rely on a single asset to provide protection in a market downturn.TOPICS: Commodities, other real assets, currency, financial crises and financial market historyKey Findings▪ Perceived safe-haven assets aren{\textquoteright}t guaranteed to produce positive returns in all market downturns. For example, non-cash safe havens, like gold and Bitcoin, can be wildly volatile and unpredictable, even during market crises. ▪ Cash as a safe haven also carries risk in that it can lose value in the event of currency devaluation or inflation. ▪ The volatility of non-cash safe havens and the potential for currencies to lose value in severe market crises presents investors with the difficult task of identifying the ultimate safe-haven asset(s) for their portfolios.}, issn = {1520-3255}, URL = {https://jai.pm-research.com/content/23/3/10}, eprint = {https://jai.pm-research.com/content/23/3/10.full.pdf}, journal = {The Journal of Alternative Investments} }