Who cares why Buffet bought Barrick shares? It’s an infinitesimal percentage of Berkshire Hathaway’s market cap. Even if Barrick triples from here, it will have no affect on the investment performance of Berkshire.
However, I believe it’s a good bet that Buffet has a lot of physical gold that he keeps in his own private storage facilities around the world.
Chris (Arcadia Economics) and I discuss the Buffet news as well as some other topics related to Buffet, gold and silver:
In the latest issue of the Mining Stock Journal I discuss profit-taking in miners, use of options to leverage returns, the Auryn/Eastmain merger and a new idea. You can learn more about the Mining Stock Journal by following this link: MSJ Subscription Info.
New subscriber comment: “Hi Dave, this is a lot of value $20 per month – thanks!”