Written by Rebecca Lipman
Warren Buffett may have been born an investing genius, but he received help along the way from his mentor, famed value investor Benjamin Graham. Together, the "godfather and godson of value investing" have made quite a fortune.
Their conquests over the market have also earned them devoted followers. If Buffett buys IBM, his fans are influenced to buy IBM stock too. If Buffett says Bank of America is undervalued, it just may be.
Buffett on GoldBuffett has taken a controversial, if not contrarian, attitude towards gold. He sees gold as an inanimate object that investors flock to when they fear other assets. It holds little actual value beyond some industrial and decorative utility, both of which is "limited and incapable of soaking up new production." Therefore, any investor holding gold instead of stocks is acting out of irrational fear. (via Ritholtz)
David Galland, managing director of Casey Research asks "How can it be that Buffett, perhaps the most successful (and definitely the most well-known) investor of our time, believes that gold has no place in an intelligently allocated investment portfolio?" Consider that gold has been the most popular "counter-trend investment" in periods when stocks and bonds were underperforming...read more.
David Galland, managing director of Casey Research asks "How can it be that Buffett, perhaps the most successful (and definitely the most well-known) investor of our time, believes that gold has no place in an intelligently allocated investment portfolio?" Consider that gold has been the most popular "counter-trend investment" in periods when stocks and bonds were underperforming...read more.
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