Warren Buffett Doesn’t Need Gold, But You Do - Rick Rule

An investor on the caliber of Warren Buffett most likely doesn’t need extra insurance on his portfolio, but that doesn’t mean that it’s not good practice to own gold as a hedge, said Rick Rule, CEO of Sprott U.S. Holdings.

“Were I as smart as Warren Buffett, were I as disciplined as investor and as good an analyst, I probably wouldn’t need gold either. Part of what gold does is it protects us from our own worst instincts,” Rule told Kitco News on the sidelines of the PDAC 2019.

_________________________________________________________________
Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people make informed investment decisions.

Subscribe to our channel to stay up to date on the latest insights moving the metals markets.

Follow us on social media:

Disclaimer: Videos are not trading advice and the views expressed may not reflect those of Kitco Metals Inc.

[rebellucy]

Holding GOLD is safer than banking with Wells Fargo.

[bruce]

gold is an asset value and has been for 5000 years

[nautique]

I used to have a ton of respect for Rick Rule, but after listening to this interview, he is an elite worldly. Thanks Danielle for bringing this to light (though it probably wasn't your intention).

[moresugartradercc]

if we were all as rich as buffet none of us would need gold

[TC-gvqh]

I'm no fan of Buffet! He is given inside information, given lucrative contracts and was bailed out in 2008 crash. The keystone pipeline was stopped so his trains could continue shipping Canadian oil. He acts like a good ol boy from Omaha but he is far from it!

[bokkenrijder]

@3:45 So the Berkshire Hathaway share price dropped by 50% within an 18 month timeframe, so therefore we need to stick to gold because of it's stability?

So Rick, please remind us: by how much did the gold price decline after 2011....?

[TruthBtold-ke]

Interesting that Mr, Buffet does not understand what real money

[foxfiresidechats]

Anyway you slice it= It’s foolish to not own= the only item on Earth that has never been worth zero. That simple fact gives gold merit. Always have some gold. Always.

[nunoalexandre]

Very Honest Views !!!, Thank You Both !!!!

[kimmi]

agreed very interested to see more m&a in the industry

[GNXClone]

Looks like Buffett has changed his mind about GOLD. Thanks Warren! Been holding Barrick for a couple years now. Can’t wait to see what happens when the market opens.

[VotePaineJefferson]

Buffet is not a great investor. He's a rich old fart who had the advantage of investing early in the greatest bull market in history. Most of us will not have such an advantage.

[hOtneO]

Nobody is saying put all or half of your into gold, just 5% hedge, that hedge will protect all the other assets will it all falls. If you believe in Buffet, then don't have 5% of insurance. When you do rock climbing, doesn't it make sense to anchor yourself to the wall so you won't die? Buffet has made bad calls on Unical oil, Kraft Heinz, and Coca Cola. He hedges against inflation buy owning companies that have cash flow, but cash is still fiat.

[bonniebrook]

Good one Thank you W.B he as a lot of Cash and he doesn’t not no were to Place it what to Buy

[Mikesorrento]

Interesting comments regarding Buffet. Buffet has been buying tangible assets over the past several years....he bought a railroad. He knows what's coming and he can't admit it as he has a fiduciary responsibility to his shareholders. If Buffet, or any other billionaire, they won't tell you the truth. If they did, their companies stock would tank.

[JayFGrissom]

Great perspective on how titans think vs mortals.

[iancassie]

this guy is good he could sell tesla 3s, but nice to hear someone who is positive

[nonenone]

bs when there the only game in town left, they set the price that is only good for them.
.

[cliffvonting]

Although cutting costs is good, I dont like the mega mergers in business as a whole. Will see what Buffet has to say as Central Banks around the world print to infinity as they try to curb deflation and Avg peoples money is becoming worthless.

[Ahenkel]

Where did all the money go from bitcoin 20000.00 $ down to 2000.00$. It went to someone never forget ...