Warren Buffett: gold has no value


Warren Buffett: gold has no value

Berkshire Hathaway chairman and famous investor Warren Buffett has dismissed gold as a “valueless asset”.

By Emma Wall

The Telegraph

February 10, 2012

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.

He warned that gold was a self-inflating bubble, created by investors desperate for a viable alternative to property and shares.

The infamous investor warned that investors in gold would be left with egg on their face when the price eventually crashed.

“Bubbles blown large enough inevitably pop,” he said. “And then the old proverb is confirmed once again: “What the wise man does in the beginning, the fool does in the end.”

Buffett’s attack comes as private bank Coutts predicts that the gold price will hit “new highs” by the end of 2012.

Click Here to Read More

Advertisements

About partisanrangershow

Freedom fighter
This entry was posted in Economics. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s