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All I know is what's happened in the past and what appears to be happening today. Throughout history, gold has been an adequate store of value when currencies have blown up. Because of what's happened in the past and what I believe is happening now, it is imperative you own some gold, some real gold, gold you can bite down on, gold that clanks.
You should avoid just about every stock on the market today. But not the world dominators. These are the greatest businesses in the world, the stocks Warren Buffett buys and holds forever.
Of all the businesses I've covered, from booksellers to gun manufacturers, I've learned to love three a little more than all the rest: insurance, lending, and asset management.
All three of these businesses have one thing in common: other people's money. But a tiny few bettors, over the long term, really did manage to make a little money gambling on the horse races at Santa Anita. Munger was impressed that these few were "shrewd about something with as much unpredictability as horse racing."
Seeking professional help means buying stocks – like Warren Buffett's Berkshire Hathaway – run by great investors who know how to sit on cash until a suitable investment comes along.
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