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I really liked this piece by Matt DiLallo on why gold is so hated by Warren Buffett. He provides the juicy details, but I’ll give you the quick and dirty rundown:
Gold is an unproductive asset.
Gold is valuable largely because people believe it’s valuable.
It’s not that Buffett is an ideologue or just on some anti-gold rampage. I think there are some logical and great lessons to be learned here:
I don’t mean to rant against gold. I just think there are some fundamental reasons to keep gold in the proper perspective when we consider its value as a portion of our asset holdings. In my view, it’s not the type of asset you want to build a portfolio around …
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