/biz/ - Business & Finance

>Your health is your most important asset.
- Warren Buffett

Warren Buffet was once asked, "would you put money in gold?"

He said, "well, you can take all the gold in the world and stick it into the infield of a major league ballpark, right? It's sixty feet by sixty feet high... into a big cube. With that same amount of value you can buy all of the agricultural land in America and eighteen Exxons. And which would you rather have when things get rough: the producers of energy and food, or a pile of gold that you can't eat?"

"A century from now the 400 million acres of farmland will have produced staggering amounts of corn, wheat, cotton, and other crops - and will continue to produce that valuable bounty, whatever the currency may be. Exxon Mobil will probably have delivered trillions of dollars in dividends to its owners and will also hold assets worth many more trillions (and, remember, you get 18 Exxons). The 170,000 tons of gold will be unchanged in size and still incapable of producing anything. You can fondle the cube, but it will not respond."

"I believe that over any extended period of time this category of investing will prove to be the runaway winner… More important, it will be by far the safest."