Via this item at the azizanomics blog the other day comes another way to look at Warren Buffett’s recent comments about “valueless” gold in the depiction of Berkshire Hathaway stock priced in the yellow metal.
I’d have to agree with the chart’s creator John Aziz when he notes:
Warren Buffett had a great ride: he grew his wealth and businesses in an era of unprecedented growth powered by OPEC oil, and later by Chinese industrialism. That era — the era of the American free lunch — is coming to an end. His insights are applicable to that era. Today is a different world.