Forbes has an interview with Hollywood Billionaire Arnon Milchan who owns New Regency films. What’s interesting is not his plumping for the best art as an asset but his skepticism about gold, an asset that often responds to similar economic forces:
What’s the best asset to own in 2010?
Art. If you have triple-A art, I’ve never seen it really go down. Great art is the best thing to own. We’ve seen recently the art market picking up fast. The last Sotheby sale broke records.
Gold: buy, hold or sell?
Sell. We’ve gone through a huge crisis and gold has gone sky-high. At the end of the day, gold is a refuge–it’s not a positive currency. It’s a place you go when you’re scared. I don’t see gold as a player in a healthy economy. If you just bought it, I would say hold. But if you bought it five, 10 years ago, sell it.