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I think you're taking this a bit too literally. Consider a less extreme case; given a choice between a pound of gold or the current financial equivalent in Berk
by HillRat 10y ago
I think you're taking this a bit too literally. Consider a less extreme case; given a choice between a pound of gold or the current financial equivalent in Berkshire Hathaway equity (about 150 shares), which is more likely to provide higher returns over the long run? Buffet is basically making an optimistic case for the American economy, arguing that gold is a hedge, while market investment is a strategy.
- downandout 10y agoYes, I understood what he was trying to say, but his comparison was too far over the top and inaccurate to not be called out. His wording introduced and failed to account for the idea of someone having a monopoly on gold.