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Gold is unique because it has the age-old aspect of being viewed as a store of value. Nevertheless, it’s still a commodity and has no tangible value, and so I would say that gold is a speculation. But because of my fear about the potential debasing of paper money and about paper money not being a store of value, I want some exposure to gold.

Seth Klarman

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Seth Klarman
Age: 67
Born: 1957
Born: May 21
New York City
New York
Seth Andrew Klarman
Still
Unique
Speculation
Would
Paper
Commodity
Value
Nevertheless
Age
Store
Values
Stores
Debasing
Fear
Potential
Viewed
Money
Aspect
Tangible
Stills
Gold
Exposure

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Having clients with a long-term orientation is crucial. Nothing else is as important to the success of an investment firm.
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