I agree.
The above chart is probably why he likes to talk it down, as it doesn't make him look very clever, in generating pretty negligible excess returns over an extended period, when set against a 'pet rock' with no counterparty risk.
I guess the other point I was trying to make with the original post, is that if someone did to Gold today, what Buffet did to silver in 97/98, we would be in for one hell of a joy ride, with gold sky high in no time due to the level of leverage run in the Comex and the present tightness in supply available for delivery.
Not to be a conspiracy wonk, but Buffet saw the opportunity to play that game in silver and he stepped out of it very quietly and has spoken negatively on PM's ever since, one has to wonder if he got a tap on the shoulder and told to back off...
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I agree.The above chart is probably why he likes to talk it...
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8 | 2024 | 14.440 |
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