The surging gold price may have encouraged many investors to buy the yellow metal in recent months. But this might not be the best way to become rich and retire early. Instead, it may be better to follow the advice of Warren Buffett.
Warren Buffett’s view on gold
Buffett has always been against buying gold. According to the billionaire investor, buying it is a waste of money because it produces no cash. And most of the time, owners have to actually pay to store their gold.
As a result, all owners can do is sit tight and hope the price of gold keeps rising. On the other hand, companies produce cash, which supports their share prices.
That’s why Buffett likes owning stocks over precious metals like gold. He believes stocks are more likely to produce better returns over the long term. And so far, he’s been right. Stocks have substantially … Read more