capitalism
Out of context: Reply #548
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- utopian2
Did Warren Buffett just bet against the U.S. economy?
His latest investment raises some questions.
Warren Buffett has long been critical of gold as an investment, saying it “has no utility” and that the “magical metal” is no match for “American mettle.” He once wrote that “Anyone watching from Mars would be scratching their head” over how we treat the shiny stuff on this planet.
Yet the Berkshire Hathaway BRK.A, -0.58% boss just acquired nearly 21 million shares of Barrick Gold GOLD, -0.55% worth $563 million, while selling shares of Wells Fargo WFC, +1.11% and JPMorgan Chase JPM, +0.03% , according to 13-F filings released Friday afternoon.
The move kicked up buzz among gold bugs and other Wall Street watchers across the internet, who saw Buffett’s trades as perhaps signalling a shift in his views on the market.
- thats a surprise. He favors silver normally, he probably thinks things will get worseBeeswax
- Yeah, looks like backup. He's always thinking long term.grafician
- "Never bet against America" - Warren Buffet May 04, 2020utopian
- just like bloomberg.
BRK sits on an enormous amount of cash what will be unloaded somewhere,
and he is building a position in BAC (bank of america).sted - * Calls Parket Schnabel and Tony Beets *Morning_star
- * ParkerMorning_star
- "Some people claim that there's a woman to blame
Now I think, hell, it could be my fault"
- Jimmy Buffet, 1977.exador1