Why does that not confuse me?
Buffet thinks Biden will win. This is the only reason I can see for this play and what does it say about his expectations for a Biden presidency?
We’re on the verge of an inflation based great depression (2021). PM’s are one great hedge in such a time.
“The totemic tycoon revealed in filings late last week that he has scooped up more than 20 million shares of mining giant Barrick Gold Corp.”
So he didn’t actually buy gold, but a large gold miner - plus he probably did this months ago before the run up (inside info for sure) and just reported it
Heh, and when the mega inflation hits and the socialist Democrat gubmit tries to take our gold this time, the “leaders” will NOT be safe in their homes.
Or anywhere else.
Turkeys citizen are buying gold, in the face of the demise of the lira.
The men who place billion-dollar bets know that hard times are coming. I ain’t got billions, but I got land, a house I built, water, food, guns, ammo, livestock, gardens, and tools. And tribe.
l8r
We’ll need to worry when he buys Carlsbad Caverns and starts investing in pallet loads of Ensure.
He never intended to buy Goldman. He got it as part of the 2008 bailout deal. He lent them 5 Billion in cash and he got warrants that let him buy their stock at the then very low price. His gold purchase is a gold mine. Its an international miner. So he is moving money into a commodity producer out side the US. This is not just buying gold. While gold miners do tend to follow gold they are not in lock step with gold. I am assuming he sold Wells Fargo and Goldman to offset profits and loses. It also allows him to lower his huge US banking investment. Berkshire’s two largest holdings are Banking and Insurance. Berkshire has taken a very large it in both.
Pure politics.
He’s looking to start the quatro-annual September Stock Market crash.
If Biden wins capital gains taxes will go up like crazy, and the lefties have it in for any of the whales that want to protect whats theirs. I’m not sure when BoA’s ex-dividend date is, but that date and their earnings date would be worth keeping an eye on if you have any banking stocks. I think it’s more notable that he invested in actual gold and not merely a gold portfolio (on paper) stock. JMHO.
The headline makes you think he bought physical gold.
Buying shares in a mining company is really NOT the same as buying gold bars.
What's his time horizon?