Warren Buffett Quotes About Gold

Quotes about: Gold

• [Gold] gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head.

  Warren Buffett

  People, Gold, Would Be

• The major asset in this category is gold, currently a huge favorite of investors who fear almost all other assets, especially paper money (of whose value, as noted, they are right to be fearful). Gold, however, has two significant shortcomings, being neither of much use nor procreative. True, gold has some industrial and decorative utility, but the demand for these purposes is both limited and incapable of soaking up new production. Meanwhile, if you own one ounce of gold for an eternity, you will still own one ounce at its end.

  Warren Buffett

  Two, Gold, Use

  "Berkshire’s Corporate Performance vs. the S&P 500". www.berkshirehathaway.com. 2012.

• Gold is a way of going long on fear, and it has been a pretty good way of going long on fear from time to time. But you really have to hope people become more afraid in a year or two years than they are now. And if they become more afraid you make money, if they become less afraid you lose money, but the gold itself doesn’t produce anything.

  Warren Buffett

  Years, Two, Long

• Gold has two significant shortcomings, being neither of much use nor procreative.

  Warren Buffett

  Money, Two, Gold

  "How Does The Cult Of Buffett Compare To The Cult Of Gold?". www.businessinsider.com. April 10, 2012.

• When it's raining gold, reach for a bucket, not a thimble.

  Warren Buffett

  Rain, Gold, Buckets

  "Meet the World's New Richest Man" by Matthew Miller, Luisa Kroll, abcnews.go.com. March 10, 2010.

• Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble.

  Warren Buffett

  Rain, Opportunity, Gold

  "25 Best Warren Buffett Quotes". The Motley Fool, www.fool.com. September 28, 2014.

• You could take all the gold that's ever been mined, and it would fill a cube 67 feet in each direction. For what that's worth at current gold prices, you could buy all -- not some -- all of the farmland in the United States. Plus, you could buy 10 Exxon Mobils, plus have $1 trillion of walking-around money. Or you could have a big cube of metal. Which would you take? Which is going to produce more value?

  Warren Buffett

  Feet, Gold, Cubes

• The problem with commodities is that you are betting on what someone else would pay for them in six months. The commodity itself isn't going to do anything for you....it is an entirely different game to buy a lump of something and hope that somebody else pays you more for that lump two years from now than it is to buy something that you expect to produce income for you over time.

  Warren Buffett

  Years, Games, Two

• What motivates most gold purchasers is their belief that the ranks of the fearful will grow. During the past decade that belief has proved correct. Beyond that, the rising price has on its own generated additional buying enthusiasm, attracting purchasers who see the rise as validating an investment thesis. As 'bandwagon' investors join any party, they create their own truth - for a while.

  Warren Buffett

  Party, Past, Rising Prices

  "Treasury commitee struggles to hide scorn over Osborne's Help to Buy plan" by Nils Pratley, www.theguardian.com. April 19, 2013.

• I have no views as to where it will be, but the one thing I can tell you is it won't do anything between now and then except look at you. Whereas, you know, Coca-Cola (KO) will be making money, and I think Wells Fargo (WFC) will be making a lot of money and there will be a lot - and it's a lot - it's a lot better to have a goose that keeps laying eggs than a goose that just sits there and eats insurance and storage and a few things like that.

  Warren Buffett

  Thinking, Eggs, Views

  "CNBC's Squawk Box", www.cnbc.com. March 9, 2009.

• What motivates most gold purchasers is their belief that the ranks of the fearful will grow ... As 'bandwagon' investors join any party, they create their own truth - for a while.

  Warren Buffett

  Party, Gold, Belief

  "Treasury commitee struggles to hide scorn over Osborne's Help to Buy plan" by Nils Pratley, www.theguardian.com. April 19, 2013.

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