I fully understand the concept of buying hard assets. But I, like Buffett, believe price is more important than what you buy and everything is capable of being overpriced no matter how vital that hard asset is.
Speculation is the #1 driver by leaps and bounds for precious metals. Whether that speculation is correct or not remains to be seen, but IMO anybody who fails to recognize that it IS speculation for now driving it primarily is living on La-La Land.
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