Why Buffett's Not a Big Fan of Gold

Warren Buffett said this about investments in gold during an interview with Becky Quick on CNBC in March:

"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 will be making money, and I think Wells Fargo 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. The idea of digging something up out of the ground, you know, in South Africa or someplace and then transporting it to the United States and putting into the ground, you know, in the Federal Reserve of New York, does not strike me as a terrific asset."

In the long run. productive assets like a good business (or shares of) create more value over time than the non-productive assets like a chunk of yellow metal.

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Why Buffett's Not a Big Fan of Gold
Why Buffett's Not a Big Fan of Gold
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