Warren Buffet: Gold has no value

Looks like we’ve found our gold bear, as Warren Buffet sees the gold market as a self-inflating bubble.

From The Telegraph:

Billionaire investor Warren Buffett has dismissed gold as a valueless asset saying that it has no inherent value. In an article for Fortune magazine, Buffett said that gold investors were pinning their hopes on future demand.

Read the entire article HERE

In Fortune magazine, Buffet argues that stocks are better than gold:

This type of investment requires an expanding pool of buyers, who, in turn, are enticed because they believe the buying pool will expand still further. Owners are not inspired by what the asset itself can produce — it will remain lifeless forever — but rather by the belief that others will desire it even more avidly in the future.

Read the entire article HERE

What do you think?

Share this Post!