On November 19, an online publication featured Dan Bin's recent public speech.
In this speech, Dan Bin specifically mentioned gold, Bitcoin, and Tesla.
Regarding gold, but Bin mentioned (the gist is):
If we look at the long historical perspective, gold, as a non-yielding asset, cannot outperform yielding assets (such as stocks), and a time return chart compares the return comparison curves of the two.
Seeing this statement, I am reminded of something Buffett said in his shareholder Q&A (the gist is):
He used a famous European painting as an example, mentioning that if an investor had purchased this painting in 19XX and held it until today, what the price of the painting would be; meanwhile, another investor used that money to invest in a US stock index fund at that time, and what that fund would be worth today. In comparison, the returns of the latter were far higher than those of the former.
So Buffett's conclusion is also: from an investment perspective, for non-yielding