There is a story that came out after the stock market closed today which may be of big significance to many.
Warren Buffett, who has been very critical of gold for decades, has taken a significant stake in Barrick Gold. His company Berkshire Hathaway bought over 16 million shares of Barrick in the quarter ended July 1, 2020. At the same time he dumped a bunch of financials including Goldmann Sachs (GS) and has completely gotten out of airlines.
Buffett has been critical of gold for decades saying that it has no utility. He has also said that if aliens were watching us, they’d see us digging gold out of a hole in the ground only to bury it in another hole and would scratch their heads.
Buffett has owned sizable amounts of silver, which has LOTS of utility, in the past. He won’t tell people about what he is doing in advance. In putting two and two together, I think it is reasonable to think that Buffett may also be looking at silver investments as well. Some could speculate that the gold purchase would happen first, so that it could cause silver to runup in value. Keep in mind that these announcements only come out once a quarter, so it is possible that Buffett bought some silver shortly after July 1 and we won’t know for roughly 3 more months.
This could be a huge story IMHO. These are very interesting times! Good luck to all.
Big News- Warren Buffett Buys Gold
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Big News- Warren Buffett Buys Gold
by Recyclersteve » Fri Aug 14, 2020 7:38 pm
Former stock broker w/ ~20 yrs. at one company. Spoke with 100k+ people and traded a lot (long, short, options, margin, extended hours, etc.).
Please note that ANY stocks I discuss, no matter how compelling, carry risk- sometimes substantial. If not prepared to buy it multiple times in modest amounts without going overboard (assuming nothing really wrong with the company), you need to learn more about the market and managing risk. Also, please research covered calls (options) as well.
Please note that ANY stocks I discuss, no matter how compelling, carry risk- sometimes substantial. If not prepared to buy it multiple times in modest amounts without going overboard (assuming nothing really wrong with the company), you need to learn more about the market and managing risk. Also, please research covered calls (options) as well.
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Re: Big News- Warren Buffett Buys Gold
by Lemon Thrower » Sat Aug 15, 2020 7:09 am
This is very plausible for a number of reasons.
1. Buffet is a known liar and dissembler.
2. Buffet's father was a U.S. Cpngressman who advocated owning gold and wrote essays encouraging private gold ownership during the period between FDR and Ford when individual ownership of gold was illegal. This essay by him is often republished, and worth a read.
https://freedom-school.com/money/human- ... -money.pdf
3. While he was reluctant to discuss it it, Buffet stacked 130 million ounces of silver in the late 1990s. Rumors persist that this horde eventually became the SLV trust. https://sdbullion.com/blog/warren-buffe ... 97-to-2006.
1. Buffet is a known liar and dissembler.
2. Buffet's father was a U.S. Cpngressman who advocated owning gold and wrote essays encouraging private gold ownership during the period between FDR and Ford when individual ownership of gold was illegal. This essay by him is often republished, and worth a read.
https://freedom-school.com/money/human- ... -money.pdf
3. While he was reluctant to discuss it it, Buffet stacked 130 million ounces of silver in the late 1990s. Rumors persist that this horde eventually became the SLV trust. https://sdbullion.com/blog/warren-buffe ... 97-to-2006.
Lets Go Brandon!
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