Warren Buffett: Gold Produces Nothing #investing #gld #gold #shorts
gold have a place in Buffett’s portfolio Warren Buffett has made similar comments about gold in the past as he has about Bitcoin he spoke of it as an asset that produces nothing and its value is only derived from how other people think about it one of the interesting things U for example is gold uh if you go back to the time of Christ and you look at how many hours you had to give up in order to buy an ounce of gold and you take it forward to now you’ll you’ll find the compound right maybe a 10th 210 of 1% you know and and then you have to insure during that time and make sure you know somebody doesn’t steal it from you everything but it doesn’t produce anything however in 2020 Barsha haaay acquired a Stan barck gold Corp the world’s largest gold miner this investment was considered surprising especially given Buffer’s previous stands on gold Burkshire acquired nearly 21 million shares of bar gold guys now this is only $600 million this is like a quarter percent of the portfolio
Warren Buffett: Gold Produces Nothing
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