Investing in gold - for fools, says one of the world's richest people Warren Buffett.
In his annual address to the shareholders of Berkshire Hathaway Buffett legendary investorUorren devoted several paragraphs of the gold and the "fools" who praised him. He explained pochemuinvestitsiya in gold - it's a bad investment, even if the price of this precious metal in the U.S. from time to time growing.
If you collect all the gold in the world together, you get a cube 21 meters in height, which is conveniently located on the baseball field, estimated Buffett. Moreover, its price will be $ 10 trillion.
Investor says:
- In the next thousands of years gold as an investment will not produce anything;
- Gold cube will not do you any dividends;
- How would you "cajole", he will not answer you in return.
Over the same 10 trillion can buy all arable lands of America ($ 400 billion), 16 companies Exxon-Mobil, and you still have one trillion to "petty cash." In the next 10 years, these investments will give you the trillions of dollars of dividends, and at the end of the century, and you can sell the land and the company is much more expensive than the 9 trillion., For which you purchased it.
In this case, the only way to earn gold - is to find someone willing to pay you for a cube more than you paid for at the time.
So you decide where to put their money ...
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