Macro Millionaire Coaching Program | Why Warren Buffet Hates Gold

Macro Millionaire Coaching Program | Why Warren Buffet Hates Gold

Featured Trades:

(WHY BUFFET HATES GOLD)

(CONSPIRACY THEORY OF THE DAY)

(MILLENIAL VOTERS)

Why Warren Buffet Hates Gold?

The "Oracle of Omaha" expounded at length today on why he despises the barbarous relic. The sage doesn't really care if the yellow metal hit an all-time high today of $1,440. He sees it primarily as a bet on fear. If investors are more afraid in a year than they are today, then you make money. If they aren't, then you lose money. If you took all the gold in the world, it would form a cube 67 feet on a side, worth $7 trillion. For that same amount of money, you could own other assets with far greater productive power, including:

All the farmland in the US, about 1 billion acres, which is worth $2.5 trillion.

Seven Exxon Mobil's (XOM), the largest capitalized company in the US.

You would still have $1 trillion in walking around money left over.

Instead of producing any income or dividends, gold just sits there and shines, letting you feel like you are King Midas.

I don't know. With the stock market peaking around here, and oil trading at $115/barrel in Europe, a bet on fear looks pretty good to me right now. I'm still sticking with my long term forecast of the old inflation adjusted high of $2,300.

Maybe Feeling Like King Midas is Not So Bad

Conspiracy Theory of the Day.

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Was This a Trading Strategy?

Watch Out for the Millennial Voter.

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Quote of the Day

"A house can be a nightmare if the buyer's eyes are bigger than his wallet and if a lender often protected by a government guaranteefacilitates his fantasy," said Warren Buffet.

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