In case you haven't heard, the most famous investor in the world and perhaps the most commonly quoted person in terms of why gold is not a worthwhile investment just bought 21 million shares of Barrick Gold. (BTW, the forum really needs a flying pig emoji).
https://www.kitco.com/news/2020-08-14/W ... -gold.html
While a gold miner is not the same as the bullion it is digging up, it'll be interesting to see if this marks a sea change in how mainstream investors think about gold in a portfolio. At the very least, I imagine it will slay some sacred cows and force people to think twice about ignoring it out of hand because of some old Buffett quip.
Noted gold hater has a change of heart
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Re: Noted gold hater has a change of heart
Heh. A lot of gold bugs are having a little online fun at Buffet's expense. But that aside, it is a remarkable development.
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Re: Noted gold hater has a change of heart
Buffett is also famous for buying and using the products of companies that he owns big stakes in. Maybe he'll start playing heads or tails with a Maple Leaf in public.
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Re: Noted gold hater has a change of heart
This is the funniest news.
Buffett did buy silver once at a 10- or 20-year low, and I’m pretty sure it wasn’t because silver has “utlity.”
Buffett did buy silver once at a 10- or 20-year low, and I’m pretty sure it wasn’t because silver has “utlity.”
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Re: Noted gold hater has a change of heart
I'm really surprised at this.
I can understand if, say, a bunch of Boglehead posters suddenly decided to start chasing gold....but I thought Buffett knew better??? Maybe he's really starting to slow down. His other moves (shedding airlines & bank stocks) are kind of obvious and it's surprising he didn't do that earlier.
I can understand if, say, a bunch of Boglehead posters suddenly decided to start chasing gold....but I thought Buffett knew better??? Maybe he's really starting to slow down. His other moves (shedding airlines & bank stocks) are kind of obvious and it's surprising he didn't do that earlier.
Re: Noted gold hater has a change of heart
Well.... he is buying shares in a company and I suspect he is just acting as a value investor.
When he starts stacking physical, then I will sit up and take notice
When he starts stacking physical, then I will sit up and take notice
Aussie GoldSmithPP - 25% PMGOLD, 75% VDCO
Re: Noted gold hater has a change of heart
Kinda like we are talking about in another thread, with interest rates so low it’s a bit of a game changer. The only legit criticism now is it’s more volatile.
Re: Noted gold hater has a change of heart
And Mr. Buffett has company in the form of one Ray Dalio:
https://www.reuters.com/article/gold-et ... SL8N2FF7BL
Geez maybe I need to start a rumor that Taylor Larimore has abandoned The Three Fund Portfolio in favor of the PP just to make sure the Bogleheads crowd has the complete conniption fit experience.
https://www.reuters.com/article/gold-et ... SL8N2FF7BL
Geez maybe I need to start a rumor that Taylor Larimore has abandoned The Three Fund Portfolio in favor of the PP just to make sure the Bogleheads crowd has the complete conniption fit experience.