The redoubtable Peter Schiff wonders out loud about why Warren Buffett is always banging on about gold. Perhaps its because this useless inert metal keeps crushing him in the performance stakes.
All those days in a man-cave basement in Omaha staring at filtered screens, all those phone calls to politicians to recoup favours, and all of those ratio comparisons, and still the yellow metal keeps kicking him in the pants.
No wonder he’s angry.
Here’s the picture that tells a thousand tales. Gold is the top line in red. Berkshire Hathaway, Buffett’s investment vehicle, is in blue: