Ray Dalio Thinks Buffett “Making a Big Mistake” on Gold

Bridgewater’s Ray Dalio disagrees with Warren Buffett on gold, telling CNBC that it’s “the new cash.”

“Gold should be a part of everyone’s portfolio to some degree,” he said.  “It is the alternative money.”

Dalio cites money printing as the reason why gold is now better than cash.  And when asked about Warren Buffett’s aversion to the barbaric relic, Dalio saltily responded:

“I think he’s making a big mistake.”

Here’s the video embedded (with direct link to CNBC.com below):

Ray Dalio: Buffett is Wrong on Gold