According to Charles Lewis Sizemore, the following beliefs are inaccurate
- Gold is an investment
- Gold is a store of value
- Gold is a contrarian trade
He quotes Warren Buffett
You could take all the gold that’s ever been mined, and it would fill a cube 67 feet in each direction. For what that’s worth at current gold prices, you could buy all — not some — all of the farmland in the United States. Plus, you could buy 10 Exxon Mobils, plus have $1 trillion of walking-around money. Or you could have a big cube of metal. Which would you take? Which is going to produce more value?