Brian Gongol
Why gold is a lousy investment, by Warren Buffett
The adaptation from Buffett's upcoming letter to shareholders of Berkshire Hathaway delves into the problem with thinking of gold as either (a) a stable investment, or (b) a productive investment. Buffett touches on two themes noted here earlier this year -- that gold's value is constantly being eroded by the fact it's being mined constantly around the world, no matter how much the gold bugs seek to convince others that it's rock-solid, and that it's a truly capricious choice for stability -- no more sensible than coal or uranium (suggested here) or seashells or shark teeth (suggested by Buffett).
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A video tour of Warren Buffett's office
(Video) It's a bit contrived, but as much as anything, it's good to see a very successful executive working in an office that doesn't look like some kind of lavish imperial chamber. It's a nice office, but it doesn't look like the kind of place that has a gold-plated toilet or an $87,000 area rug.
