>
Warren Buffett bashes gold, says the 'magical metal was no match for the American mettle'
February 26, 2019

From Business Insider:

It's no secret that Warren Buffett doesn't like gold as an investment.

The legendary investor used an example in his 2018 letter to drive home his point about the importance of not panicking and investing in stocks over gold for the long run.

Buffett highlighted the 40,000% surge in the US's national debt over the last 77 years, and said if you "panicked at the prospects of runaway deficits and a worthless currency" and bought 3.25 ounces of gold with your $114.75 (the amount Buffett invested when he purchased his first shares of stock in 1942) it would be worth about $4,200, or "less than 1% of what would have been realized from a simple unmanaged investment in American business."

He added: "The magical metal was no match for the American mettle."

Continue reading at Business Insider...

You may also like

Billionaire says buy more gold

"Billionaire hedge-fund manager Ray Dalio sent ripples through the gold market this week when he advised buying the metal, but he's part of a bigger wave."

Will the gold rally continue?

"As the global economy slows and the Fed prepares for a rate cut, there’s reason to be bullish about the yellow metal."

Billionaire: 'Gold has everything going for it'

"Billionaire investor Paul Tudor Jones said in a Bloomberg interview last week that geopolitical disruptions have made gold his favorite trade in the next 12 to 24 months."