I have just completed an analysis of the performance of the spot price of gold vs. Berkshire Hathaway. I think you will find the results are a little suprising.
Spot Gold vs. Bershire Hathaway
Interestingly, Buffet himself emphasised the non-productive aspects of gold in a speech at Harvard in 1998:
It gets dug out of the ground in Africa or
someplace. Then we melt it down, dig another
hole, bury it again and pay people to stand around
guarding it. It has no utility.
Perhaps its utility is in balancing a porfolio Warren?
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