RE:market correctiomFirst of all I was just quoting Mr Buffett.
Second of all I think the point of his quotes is hold assets that can build upon themselves. e.g his point about having Exxon Mobil or an equivalent value of dollars or an equivalent value in gold. He would take Exxon.
The point being, having 100k in the bank does nothing if you don't do anything with it, same with gold. Personally I'd choose land over cash. You can rent it out and be paid for it in cash, gold, beef, pork, chicken, corn, lumber, gasoline, even water. You can also grow/raise your own commodities as needed or even find some on your land.
Re read the comments posted I think you missed Mr Buffett's point. Bringing it back to BBI Mr Buffet would choose BBI over cash or Gold if those were his only three choices.
cheers