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Weekly Insight: Gold and the Greater Fool Theory

In times of stock market volatility and government intervention in financial markets, some people are comforted by owning hard assets (e.g., gold). We have never been big proponents of investing more than a few percent of a portfolio in the precious metal and neither is Warren Buffet. Mr. Buffet has clever and memorable ways of explaining things such as this example from a 1998 speech he gave at Harvard: “It…

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