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This is, of course, direct advice straight from Buffett. And it makes a lot of sense to me. I would expect commodities to keep pace with inflation - they're worth something after all, but as they don't inherently produce an income of their own, it would only be a tightening of supply that could cause a return above inflation. Over short periods, gold can be an excellent investment. On the other hand, if you're holding gold or any commodity as a part of "balanced" portfolio on a permanent basis, I'm not sure of what mechanism would make long term, non-timed holding of commodities worthwhile.
This is, of course, direct advice straight from Buffett. And it makes a lot of sense to me. I would expect commodities to keep pace with inflation - they're worth something after all, but as they don't inherently produce an income of their own, it would only be a tightening of supply that could cause a return above inflation.
Over short periods, gold can be an excellent investment. On the other hand, if you're holding gold or any commodity as a part of "balanced" portfolio on a permanent basis, I'm not sure of what mechanism would make long term, non-timed holding of commodities worthwhile.
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