Silver

[bdub]

Warren Buffett just bought into the precious metal sector taking a stake in Barrick Gold ABX. One of the best investors in the world, who was notoriously against gold as an investment previously, has changed his mind on the sector. Impressive how he is able to change his point of view as the investing world changes. Should be good for a pop in all the precious metal miners on Monday. Barrick up 7-8% after hours. Gotta like it.

[Dean2]

Originally Posted by bdub

Warren Buffett just bought into the precious metal sector taking a stake in Barrick Gold ABX. One of the best investors in the world, who was notoriously against gold as an investment previously, has changed his mind on the sector. Impressive how he is able to change his point of view as the investing world changes. Should be good for a pop in all the precious metal miners on Monday. Barrick up 7-8% after hours. Gotta like it.

I am not convinced Buffett is the guy actually making these changes. Far too many mistakes the last few years made by people working for him. Airlines and selling them out right at the bottom, Kraft Foods to name just 2. I sold my Berkshire shares 5 years ago when they started deviating so hard away from Warren's original model.

[Dean2]

You also realise that Buffett has 100 BILLION in Apple and a farts worth of gold, right?

[Buckhead]

Originally Posted by Dean2

You also realise that Buffett has 100 BILLION in Apple and a farts worth of gold, right?

I have watched what he does with those kind of purchases. He will buy into a certain stock. Then waits for all his fanboys to drive the price up. Then he sells. Makes a quick buck.

[bdub]

Originally Posted by Dean2

You also realise that Buffett has 100 BILLION in Apple and a farts worth of gold, right?

Geeze thanks Dean for that tidbit of valuable info.
I remember when he changed his mind on the Tech sector and had less than a farts worth of Apple. Anyway I find it an interesting change in his portfolio that will probably give the sector a nice pop next week.

[bdub]

Originally Posted by Dean2

I am not convinced Buffett is the guy actually making these changes. Far too many mistakes the last few years made by people working for him. Airlines and selling them out right at the bottom, Kraft Foods to name just 2. I sold my Berkshire shares 5 years ago when they started deviating so hard away from Warren's original model.

He has been stepping back in the last while and leaving alot to Todd and Ted. Definitely had some investments not go their way but I’m sure running that much money isn’t easy. They aren’t going to get every call correct, nobodies perfect in that business unless your name is Bernie Madoff.
I’ve never owned any brk but I watch and listen to what they are doing. They are a hell of alot smarter than you or I.

[fishnguy]

^ I agree. Also, when I read about the airlines when he dumped them, it was specifically stated that it was part of the portfolio that he personally manages. IMO, with the airlines and now banks, the guy is probably looking into next year. There is little doubt there will be bankruptcies in the airline industry and lots of stress in the American banking system, which is far, and I mean really far, from perfect, as in it’s all about capitalism until the usual handouts. Will there be any money left for massive bailouts by then is the question, lol.

I find it interesting that many say he made a bad bet when he dumped the airline stock at the low pretty much. I don’t think he did. He is arguably the most “forward looking” investor that the world had seen. He saw it for what it is and dumped the stock. What is he going to do? Speculate and sell and buy and sell again? That’s not his style. This move on the banks is very concerning. I think he sees a ****storm coming. I don’t know who manages the banking sector at the firm though.

[bdub]

Anybody take the opportunity to buy the dip in either gold or silver? Gold back to $1982 and silver to $27.70 USD. The miners up strong this A.M., ABX +10%, AEM and NGT up 3-4%. Lots of talk about Berkshire buying into Barrick/Gold over the weekend. Gives other money managers a bit of a green light to invest in the sector if Warren Buffet thinks its a good bet.

[bdub]

December Gold back through 2000$ and Silver back over $28.00 USD. Gotta like it.

[bdub]

The big guys are getting in on the game. Article mentions other names buying this “crappy long term investment”.

https://www.wsj.com/articles/warren-....co/O0mbPRIhsZ

[Buckhead]

That is starting to make me nervous right there. If everyone is piling into this area it might be a good time to sell some.

[morinj]

Originally Posted by Buckhead

That is starting to make me nervous right there. If everyone is piling into this area it might be a good time to sell some.

You got in before the boom, I wouldnt be surprised if your investment is safe, it’s the people who are getting In after who should be concerned, but again this is only my opinion, and in know way am I a bullion/financial specialist!

[pitw]

Days like this make me think of the old song.

https://youtu.be/LJYgNqOFBLk

[sourdough doug]

I guess it must have been a few yrs back, when I bought in, it was less than $4.00
Hindsite tells me I should have gotten a wee bit more..

[badbrass]

I would think so!

Originally Posted by sourdough doug

I guess it must have been a few yrs back, when I bought in, it was less than $4.00
Hindsite tells me I should have gotten a wee bit more..

[bdub]

Thank J Powell speech for the nice pop this AM. The FED is going down the path of inflating their problems away. Good times ahead.