Thread by @htsfhickey, Berkshire Hathaway buys 21 million shares of Barrick Gold (GOLD), their largest [...]

Berkshire Hathaway buys 21 million shares of Barrick Gold (GOLD), their largest addition in the quarter. I thought Uncle Warren saw no value in gold?

https://whalewisdom.com/filer/berkshire-hathaway-inc

Warren B. may believe gold just sits there&does nothing. But Berkshire's sitting on an huge pile of cash(because the overall stock mkt is too expensive),& there's Barrick (& other gold miners) minting money at these gold prices. New story title from CNBC? https://www.cnbc.com/2020/07/29/gold-hits-all-time-high-but-warren-buffett-wont-buy-it-should-you.html

Gold hits an all-time high, but Warren Buffett doesn't buy it. Should you?

Gold hit a new all-time high as investors seek a hedge against market uncertainty and potential inflation, but its investment track record is spotty, and Warren Buffett has never been a buyer.

https://www.cnbc.com/2020/07/29/gold-hits-all-time-high-but-warren-buffett-wont-buy-it-should-you.html

Gold haters have to find a new standard-bearer. Problem is -almost every other investing legend: Druckenmiller,Singer,Gundlach,Zell,Tudor-Jones,Klarman, Mobius&more have publicly stated support for gold. Going to get even harder for fund managers to explain their 0% allocations

Though Warren Buffett didn't actually buy gold itself, he is buying GOLD (Barrick's symbol - gotta love it!) & it could help unlock the relative undervaluation of gold stocks, which will be generating huge amounts of cash flow & EPS at current gold prices this quarter & beyond

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