4 ms·

> easy to google Not so easy for the primary source anyway (seeking alpha has a lot of link rot). Best I can find is his letter to the 2011 annual letter, quo

> easy to google Not so easy for the primary source anyway (seeking alpha has a lot of link rot). Best I can find is his letter to the 2011 annual letter, quoted here http://www.investopedia.com/stock-analysis/streetauthority/081513/why-warren-buffett-hates-gold-ibm-axp-ko-brka-xom.aspx http://www.investopedia.com/stock-analysis/streetauthority/0... It seems that "intrinsic value" is a measure of the ability to produce future wealth. With that definition, I put the edit above to include dollars, euro and yen.

dmabram 13y ago
You're right, Buffett does include dollars, euros, yen and gold as not having intrinsic value. In addition to the link above where Buffett warns against gold as an investment, he also frequently warns against the hidden danger (compounded inflation) when holding cash. http://finance.fortune.cnn.com/2012/02/09/warren-buffett-berkshire-shareholder-letter/ http://finance.fortune.cnn.com/2012/02/09/warren-buffett-ber...