The Gold Forecast
Billionaire and investment wizard Warren Buffett has said he'd always bet on a good business to deliver better returns than gold over time. But he does acknowledge gold’s rarity:
“I will say this about gold. If you took all the gold in the world, it would roughly make a cube 67 feet on a side…Now for that same cube of gold, it would be worth at today’s market prices about $7 trillion dollars – that’s probably about a third of the value of all the stocks in the United States…For $7 trillion dollars…you could have all the farmland in the United States,
The point he makes is that gold does not do or create anything. It is selection of value that makes him the wizard of Omaha: “Great investment opportunities come around when excellent companies are surrounded by unusual circumstances that cause the stock to be misappraised.”
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Gold hits a new high as Wall Street swings wildly now, 1878
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