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This comes from a man who hoards gold, which is why he is trying to convince you that holding gold is so ridiculous. this chump munger knows that if he tells you the truth about gold, you may want some for yourself. That would trigger a rise in demand and then a rise in the price of gold. Then he'd have to pay more for his gold. He doesn't want that. I can't believe how many idiots bought into what munger said. So easily manipulated. These billionaires are buying gold and silver for themselves by the kiloton and telling the sheeple what a bad investment precious metals are.
Warren Buffett’s right-hand man doesn’t think buying gold is such a bright idea.
Berkshire Hathaway Vice Chairman Charles Munger told CNBC, “Gold is a great thing to sew into your garments if you’re a Jewish family in Vienna in 1939, but I think civilized people don’t buy gold; they invest in productive businesses.”
Munger, 88, talked about Berkshire's "wonderful" portfolio, and agrees with Buffett's "simple" investment strategy. Munger made the remarks to CNBC on the eve of Berkshire Hathaway’s annual shareholders' meeting, where Buffett addressed his early-stage prostate cancer diagnosis.
Munger said that unlike Buffett, however, he doesn’t even bother to get his PSA levels checked.
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