All that Glitters

The debate is on as to whether gold is a viable asset class for investors to focus attention.

The reality is that gold has long since been held as valuable. It's shiny, precious, and available somewhat infrequently. Howard Marks goes on to argue that gold is or is not worth your time. But mostly worth your time, not as an investment that leads your portfolio mix. But it is something to hold just in case in turns out to continue to hold value. It has been the standard for years and is not likely to change in the near future. So grab shares of an ETF and ride it out.

But how do you value it? It doesn't produce cash flow. Really it's only worth what someone will pay for it. I guess that's like most other things.