Warren Buffett says

“Gold is a way of going long on fear, and it has been a pretty good way of going long on fear from time to time. But you really have to hope people become more afraid in a year or two years than they are now. And if they become more afraid you make money, if they become less afraid you lose money, but the gold itself doesn’t produce anything.”

—Warren Buffett

More from Warren Buffett

“Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble”

—Warren Buffett

“If you aren't willing to own a stock for ten years, don't even think about owning it for ten minutes.”

—Warren Buffett

“The rich invest in time, the poor invest in money.”

—Warren Buffett

“Money is Like Cow Poop, it Does No Good Unless You Spread It Around”

—Warren Buffett

“Do not save what is left after spending; instead spend what is left after saving.”

—Warren Buffett

“Failing conventionally is the route to go; as a group, lemmings may have a rotten image, but no individual lemming has ever received bad press”

—Warren Buffett

“Instead, he takes those coupons from his low-return bond and—if inclined to reinvest—looks for the highest return with safety currently available. Good money is not thrown after bad.”

—Warren Buffett

“Price is what you pay. Value is what you get.”

—Warren Buffett

“If each of us hires people who are smaller than we are, we shall become a company of dwarfs. But, if each of us hires people who are bigger than we are, we shall become a company of giants.”

—Warren Buffett

“Buy a stock the way you would buy a house. Understand and like it such that you’d be content to own it in the absence of any market.”

—Warren Buffett