"[Gold] gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head"
[Warren Buffett in Harvard 1998]
Showing posts with label Inflation Hedges. Show all posts
Showing posts with label Inflation Hedges. Show all posts
Tuesday, September 23, 2008
View on precious metals and precious stones
"We don't view precious metals and precious stones as great inflation hedges. But we don't bring anything to that game, so we don't play it."
[Warren Buffett in Berkshire Hathaway's Annual Meeting in 1988]
[Warren Buffett in Berkshire Hathaway's Annual Meeting in 1988]
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