Re: Buffett's view on Gold
Value Hiker
5/4/2011 9:00:19 AM
I just passed the story. I don't think Mr. Buffett is right all the time, especially considering his trading record on Silver. Of course Buffett did much better on Silver than the Hunt Brother, but he definitely sold his holding on the silver too early. Actually he admitted this mistake during this year Annual Meeting.
Re: Buffett's view on Gold
Fred Goodman
5/4/2011 12:37:10 AM
With all due respect to Mr. Buffett, if I had to move my family I would rather have a few pieces of gold sewn into the lining of my jacket than a vegetable garden. Gold is, was and always will be a store of value that is transportable and desirable to have in an emergency.
Buffet has always hated gold. And FWIW, he hasn't been a good gold analyst.
Clearly it's going up though. I don't agree with the comment that it's just a trading vehicle. the analysis in our report shows that it can be valued as a historical monetary asset.
Buffett's view on Gold
Value Hiker
5/3/2011 11:13:39 PM
In this year Berkshire Annual Meeting, Buffett has a very interesting comment on Gold. Here is a summary:
If you melt all the gold in this world into a cube, you will get one with each side about 168 feet long. Based on current gold price, it is worthing 8 trillion dollars.
The all agricultural land in United States is currently priced at 2 Trillion dollars.
Unlike silver and other precious metal, which has industrial usage, Gold has no use besides the jewelry.
When disaster happened, would you like to own all the agricultural land of USA or a big gold cube. For Mr. Buffett, he preferred to own the land.
In a short, the only hope for people betting on Gold now is there will be another guy willing to pay even higher price, I guess you get the point.
Re: Re : All That Bubbles Is Not Gold
yalanand
4/30/2011 12:48:28 PM
Thanks Fred for the reply. I agree with you "there is no price too high for gold to reach in terms of the dollar". Recently University of Texas bought delivery of $1 Billion in gold. This just prooves that Gold is in strong bull run.
Re: Re : All That Bubbles Is Not Gold
icebreaker1975
4/28/2011 9:41:47 AM
Gold is definitely the hottest commodity going right now. At $1500 an ounce (and rising) how could you pass it up. Just look at what the University of Texas did when they just tokk $1 billion dollars of their endowment and put in gold. if that doesn't tell you where your money should be going, I don't know what will.
Re: Are you sure Inflation is really that low?
back2basicz
4/28/2011 6:19:02 AM
Goodman,
From one chartist/Data Freak to another...I know exactly what you mean by tracking all those 50+ charts ,etc every single day.
I am quite sure your Family(& wife) must think you are crazy to be in engrossed in so many,many numbers everyday!!!
Please keep up the good work.We need as many Independent voices out there as is possible today.The Govt. just keeps on feeding their brand of Lies which is not at all palatable for most of us to consume today.
Regards
Ashish.
Re: Are you sure Inflation is really that low?
back2basicz
4/28/2011 6:18:22 AM
Goodman,
From one chartist/Data Freak to another...I know exactly what you mean by tracking all those 50+ charts ,etc every single day.
I am quite sure your Family(& wife) must think you are crazy to be in engrossed in so many,many numbers everyday!!!
Please keep up the good work.We need as many Independent voices out there as is possible today.The Govt. just keeps on feeding their brand of Lies which is not at all palatable for most of us to consume today.
Regards
Ashish.
Fred excellent points—I agree on an inflation adjusted basis gold has more to go. Especially after today’s briefing from Bernanke. All the elements that fuel commodity growth are in place for at least the near term. I am holding my gold!
My history is not much different from yours. I was certain gold was going higher in 1978 and actually bought one contract (I was poor at the time). I got scared just before Thanksgiving, sold it at a small loss, and never bought another one.
This time though I do own some SPDR Gold Trust shares (NYSE: GLD), and so do my clients.
The blogs and comments posted on Investor Uprising do not reflect the views of Investor Uprising, PRNewswire, or its sponsors. Investor Uprising, PRNewswire, and its sponsors do not assume responsibility for any comments, claims, or opinions made by authors and bloggers. They are no substitute for your own research and should not be relied upon for trading or any other purpose.
|
 |
Latest Blogs
Telecom-equipment maker Ciena is a stock trader’s dream, as long as the timing is correct.
The FTC is offering a $50,000 cash prize to the person or group that can come up with a solution to those annoying robocalls.
Akamai is in the middle of four significant tech trends.
John Malone of Liberty Media will be taking over Sirius XM satellite radio when the existing CEO Mel Karmazin steps down. What's it mean?
Demand for students of the humanities exists, despite widespread aspersions on the discipline.
IU Education
Resources to help you become a better investor
Investor Uprising on Twitter
25 market-moving companies we're tracking
|
Tweet This