Warren Buffett Said Gold Is 'Just About the Last Thing' He'd Want to Own — He'd 'Much Prefer' Acres of Land, an Apartment or Candy Over the Precious Metal

Core Viewpoint - Warren Buffett expresses a strong aversion to gold as an investment, emphasizing its lack of utility compared to other assets that generate income or appreciation [1][2]. Investment Preferences - Buffett prefers tangible assets such as land, apartment buildings, or index funds over gold, highlighting that gold does not produce anything [2][3]. - He illustrates the long-term performance of gold versus the stock market, noting that while gold appreciated from approximately $20 in 1900 to $400 in 2000, the Dow Jones Industrial Average surged from around 60 to over 11,000 during the same period, providing dividends [2]. Asset Utility - The concept of utility is central to Buffett's investment philosophy; he favors assets that generate earnings, such as farms and businesses, over non-productive assets like gold [2][3]. - Buffett's preference for hard assets that produce income is evident in his comparison of selling candy in the future versus holding gold [3]. Real Estate Insights - Buffett has a positive view of residential real estate, stating that he would invest in a significant number of single-family homes if given the opportunity, considering them a very attractive asset class [5]. - His personal investment in real estate is exemplified by his Omaha home, purchased in 1958 for $31,500, which is now valued at approximately $1.4 million, showcasing long-term appreciation [4].