Saturday, February 25, 2012

Weekend Update #1 Warren Buffett Again Bashes Gold – And I’m fine with That

On this fine Saturday I have spent some time reading the Berkshire Hathaway shareholder letter for 2012. Not surprising is the usual Buffett speak against Gold:
The second major category of investments involves assets that will never produce anything, but that are purchased in the buyer’s hope that someone else – who also knows that the assets will be forever unproductive – will pay more for them in the future. Tulips, of all things, briefly became a favorite of such buyers in the 17th century.This type of investment requires an expanding pool of buyers, who, in turn, are enticed because they believe the buying...
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