Buffett and Gold

After one shareholder pointedly noted that gold had outperformed Berkshire's stock recently and questioned why Buffett has avoid the metal, Buffett replied that if you go all the way back to when he first started running Berkshire the stock was at $15 and gold was at $20. Now, gold is at $1600, but Berkshire is at $120,000.

Buffett says he finds that many gold supporters are more emotional than rational about the metal and don't like it when he criticizes it as an investment that doesn't generate any real wealth.