回複：巴菲特邏輯上的致命漏洞(ZT)

 

the author compares gold with berkshire performance, and come up with the conclusion that gold is a better hedge on inflation compares to berkshire. let's look at long term chart of gold.

Is gold really a better hedge against inflation? Look at the inflation-adjusted price of gold in the above chart. In 1980, high inflation with strong oil price pushed gold to record high, with boom came bust. Recently Gold price skyrocket up caused by many QEs by governments around the world printing money. 

After all, gold doesn't generate any income (dividend), it is a commodity like other metals, it's price depends on supply and demand. Copper price rises as emerging market's use of copper goes up. Simply Demand and Supply. It performs much better than many stocks, does that mean is it a better hedge against inflation??? I disagree. Does it mean it is a good investment if bought at price time and price, of course.

Gold is a great investment tool if bought at the price time and price. Now let's look at Berkshire's performance. 

Looking at historical performances, I will say berkshire beats gold hands down.It has compounded annual gain of 19.8%! It is above inflation for sure. 

Gold relative to S&P500 chart

所有跟帖： 

• Little p, you are so great!!! :) -iTrade668- ♀ (0 bytes) () 05/07/2012 postreply 16:01:22

• Was not this last graph saying gold has more room to go? -天下多蚤- ♀ (41 bytes) () 05/07/2012 postreply 16:19:28

• Here is what another mistake buffet made. -天下多蚤- ♀ (623 bytes) () 05/07/2012 postreply 16:53:15

• no no gold is way better... -hercules007- ♂ (1265 bytes) () 05/07/2012 postreply 18:03:21

• LOL, thanks. -天下多蚤- ♀ (0 bytes) () 05/07/2012 postreply 18:08:11

• You forget the human factor. -futufutu- ♂ (1545 bytes) () 05/08/2012 postreply 10:33:47

• that chart is up to May 2010 -passers- ♂ (0 bytes) () 05/07/2012 postreply 18:06:43

• Re -cecilia- ♀ (796 bytes) () 05/08/2012 postreply 07:31:57

• You are right. For investment,the most important thing is futur -xiaoyuerziba- ♀ (0 bytes) () 05/08/2012 postreply 11:03:42

• Gold's return is better in recent years. But wb and spy500 is b -xiaoyuerziba- ♀ (51 bytes) () 05/08/2012 postreply 08:52:18