Well if we knock out the gold market on the basis of cashflow as per Mr. Buffet there goes the art market, coins, antiques, stamps . In fact all colllectibles are stuffed on this view.
Undeveloped land would also go out the window. If you buy a house any greater than your basic needs this would also seem to be a negative cashflow decision - so don't do that. No value in domestic real estate.
Mr. Buffet has a world view of $5 haircuts, 1975 Chevrolets and value investing.
That works for him and he cannot go outside his square - anything else seems wrong.
I wish I could have bought a Cezanne or PIcasso forty years ago or sold Berkshire Hathaway at 70k in 2003 and bought gold.
