Roundtable: Why I Won't Buy Gold

Humans have pursued gold for millennia. The shiny, soft metal has inspired exploration and started wars, but only in recent decades has it become something that's easy for the average person to own. It's also something that you can now easily keep in your investing portfolio, via equities like the SPDR Gold Shares (NYSEMKT: GLD) exchange-traded fund.

But just because you can buy gold doesn't necessarily mean you should buy gold. After all, it really hasn't been a very good long-term investment, underperforming stocks and bonds in total returns over the past 40 years. It has also generated mixed results over the past decade, depending on when investors bought. If you're thinking about gold, you may want to reconsider your situation and investing time frame.

Here's why three of our smartest investors won't put gold in their portfolios -- at least not now. Their reasons could help you make a better decision with your investing dollars.

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Source: Fool.com