Wow - Famous gold-phobic Warren Buffet is buying gold

[make speed limit 45]

This is truly startling. He bot over a half billion dollars of Barrck.!!! I bot some of this company a few months back - symbol GOLD.

Warren Buffett buys gold

www.kitco.com

aug 14 2020 Long-time precious metal bugaboo, Warren Buffett, loaded up on Barrick Gold (NYSE:GOLD), according to a Berkshire Hathway 13F released today.

Buffett bought just under 21 million shares. Current stake is worth $563 million.

Buffett can move stocks. Barrick traded down 0.59% to $26.99 today. However Barrick shot up after hours when the news broke, and the stock hit $29.

The only other resources stock listed within the Berkshire Hathway 13F was Suncor Energy. Buffett increased his holdings of Suncor, adding 28.45% or 4.25 million shares.
Buffett shed airline stocks, such as United Airlines and American Airlines. He also reduced holdings in financial institutions such as JPMorgan and Wells Farso.

 

[EatTheRich]

He must strongly expect the economy to tank further. Unlike some of the Pollyannas here.

 

[ObamacareForever]

This is truly startling. He bot over a half billion dollars of Barrck.!!! I bot some of this company a few months back - symbol GOLD.

Buying a mining company is not the same thing as buying gold.

 

[as seen on tv]

This is truly startling. He bot over a half billion dollars of Barrck.!!! I bot some of this company a few months back - symbol GOLD.

Because he expects to live forever! Most billionaires start thinking about a charitable legacy as they near 100 . . .

 

[make speed limit 45]

Buying a mining company is not the same thing as buying gold.

No one said it is. Barrick will probably outperform gold if gold continues to rise. The mining companies are a good play. Much safer than ETFs like GLD.

 

[ObamacareForever]

No one said it is. Barrick will probably outperform gold if gold continues to rise. The mining companies are a good play. Much safer than ETFs like GLD.

Might as well buy bitcoin.

 

[make speed limit 45]

Might as well buy bitcoin.

HAHAHA. You saying bitcoin and gold are the same???? Bitcoin is super-fiat money. It's a scam for sure.

 

[ObamacareForever]

HAHAHA. You saying bitcoin and gold are the same???? Bitcoin is super-fiat money. It's a scam for sure.

Gold is the same as bitcoin from a financial perspective. Neither asset throws off any cash flows. Both are just "stores of value".
Gold is just a much older scam.