Warren Buffett’s aversion to gold has been well documented. Over the last few decades, he has steered Berkshire Hathaway Inc (NYSE: BRK.A) (NYSE: BRK.B) away from any direct or indirect investments in gold. In 2011, he explained to CNBC’s Squawk Box talk program that “gold is a way of going long on fear”.
This is what The Oracle of Omaha actually said during the talk show program: Basically gold is a way of going long on fear, and it’s been a pretty good way of going long on fear from time to time. But you really have to hope people become more afraid in the year or two years than they are now. And if they become more afraid you make money, if they become less afraid you lose money. But the gold itself doesn’t produce anything. Buffett then made a shocking move
In August 2020, Buffett shocked the investing […]
October 27, 2020 (updated October 27, 2020) Published by StockMan