Gold is very divisive and after an 11-year bull run many are expecting it to move off its highs.But Berkshire’s Charlie Munger had some harsh words for the commodity that is likely to upset gold bugs.
In an interview with CNBC’s Becky Quick Munger said:
“I think gold is a great thing to sew in to your garments if you’re a Jewish family in Vienna in 1939 but I think civilized people don’t buy gold.
Of course, the Buffett/Berkshire stance on gold is pretty well known. Buffett has always just characterised gold as a “rock” that’s far worse to own than actually investing in business.
In a recent Fortune article, Warren Buffett pointed out all the gold in the world would form a cube that’s just 68 feet on each square, and that it would cost you $10 trillion.
Here’s a clip from his interview with CNBC:
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