The question of whether precious metals have a place in one's portfolio is a never-ending debate, but an equally important yet often-overlooked question is "how much"? Ned Naylor-Leyland of Merian Global Investors discusses the role that gold and silver can play, and the important differences between sizing bullion versus sizing mining stocks. He also provides his theory for why central banks continue to accumulate bullion in their own portfolios. Filmed on October 11, 2018, in London.