• Discounts and special offers
  • Subscriber-only articles and interviews
  • Breaking news and trending topics

Already a subscriber?

By signing up, you accept Moneywise's Terms of Use, Subscription Agreement, and Privacy Policy.

Not interested ?

‘He’s good at stocks’

To be sure, Kiyosaki recognized Buffett’s achievements, commenting, “He’s good at stocks. He’s a very smart guy. He’s a multi-billionaire.”

Yet, the personal finance expert contended that Buffett didn't use his personal funds for investments.

“He didn’t invest his money. He invests your money,” he said. “I don’t need to trust Buffett. That’s all I’m saying. I trust me. And if you don’t trust you, give it to Buffett.”

This assertion, however, may not reflect the complete picture.

In Buffett’s 2011 letter to Berkshire Hathaway (BRK.B) shareholders, he wrote, “More than 98% of my net worth is in Berkshire stock, all of which will go to various philanthropies. Being so heavily concentrated in one stock defies conventional wisdom. But I’m fine with this arrangement, knowing both the quality and diversity of the businesses we own and the caliber of the people who manage them.”

Elevate Your Investments with Moby

Gain a competitive edge with Moby's expert investing insights. Our data-driven analysis and personalized recommendations empower you to make smarter investment decisions. Enhance your portfolio and stay ahead of market trends. Start your journey to financial success today at Moby.

Get Started

Buffett vs gold

Buffett is widely considered one of the most successful investors of our time.

From 1964 to 2022, his company Berkshire Hathaway delivered total gains of 3,787,464% — substantially outperforming the S&P 500’s still impressive 24,708% return during the same period.

But for investors aiming to diversify beyond the stock market, it may be prudent not to dismiss the potential of precious metals too quickly.

Gold has historically been considered a "safe haven" asset and reliable store of value by investors who use it to diversify and protect their portfolios. This is because during inflationary and turbulent economic periods, it tends to retain and often gain value.

In fact, even Buffett’s company had once invested in a gold miner. In the second quarter of 2020, Berkshire bought 20.9 million shares of Barrick Gold Corp (GOLD), one of the largest gold mining companies in the world.

However, it was not a long-term investment. Berkshire sold all its stakes in Barrick in the fourth quarter of 2020.

Sponsored

Follow These Steps Once Your Portfolio Reaches $100K

If you've amassed a $100k+ portfolio, it's time to meet with a trusted advisor.Zoe Financial's elite network of fiduciary advisors offers personalized strategies to enhance your financial success. Experience exclusive investment opportunities and bespoke wealth management services. Trust Zoe Financial for unparalleled expertise and a commitment to your prosperity.

Jing Pan Investment Reporter

Jing is an investment reporter for MoneyWise. He is an avid advocate of investing for passive income. Despite the ups and downs he’s been through with the markets, Jing believes that you can generate a steadily increasing income stream by investing in high quality companies.

Disclaimer

The content provided on Moneywise is information to help users become financially literate. It is neither tax nor legal advice, is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional. We make no representation or warranty of any kind, either express or implied, with respect to the data provided, the timeliness thereof, the results to be obtained by the use thereof or any other matter.