"I hate gold. It does not pay a dividend, it has no value, and you can't work out what it should or shouldn't be worth," Grantham said, according to an account of the comments by Robert Huebscher of investment advice provider Advisor Perspectives. "It is the last refuge of the desperate."
Grantham... then went on to deliver the punchline -- that he bought some last Friday.
Of course, the final tally isn't in yet. Recently, Barrick did benefit some from closing its hedge book.