Buffet Sells The Banks And Buys GOLD!

[tabs]

Buffet unloaded his Wells Fargo.and JP.Morgan picking..up 563M in Barrick Gold.

That should tell ya sumthin. He wants to remain rich in the coming collapse. Also that move is indicitive of his prognosis for the American economy..

[dennis in se pa]

I believe in Warren. I bought BRK-B years ago based on him being "The smartest investor on the plant". Guess it's time to buy some gold. It seems to always go up. This is for my kids - long term investment, not me.

[tabs]

BA says 3k Gold
KITCO say 5k Gold

Other sources predict much higher Gold. Gold is a heavily manipulated market where the price is supressed. That is until it can not be contained by demand.

Any pull back in price should viewed as an opportunity to buy more. The USD is basically shot as well as any USD dominated assets. The US and Global economy are on a ventilator in the ICU. The last rites are about to be administered.

[tabs]

Originally Posted by dennis in se pa

I believe in Warren. I bought BRK-B years ago based on him being "The smartest investor on the plant". Guess it's time to buy some gold. It seems to always go up. This is for my kids - long term investment, not me.

Warren is the Salesman..the face..Charlie Munger is the investor. The wizard behind the curtain.

[Sooner or later]

He needs to do something. YTD Berkshire Hathaway has underperformed the S&P 500 by about 10%.

S&P 3257 to 3372
BH 342,261 to 316,352

[Sooner or later]

BH has also underperformed over the last year.

S&P 2847 to 3372
BH 298,066 to 316,251

[dennis in se pa]

Originally Posted by tabs

Warren is the Salesman..the face..Charlie Munger is the investor. The wizard behind the curtain.

At his age I am not surprised. Old fellow here myself.

[pavulon]

So when gold hits 5K and it's time to sell it and the dollar is "toilet paper", what do you take as payment?

[island911]

Warren knows that what ever he does people will follow.

Which allows him to profit.

[widebody911]

Originally Posted by island911

Warren knows that what ever he does people will follow.

Which allows him to profit.

^This. That's the whole point of the "market analyst" industry - to herd the retail investing sheep into the chutes so their 401k's can be fleeced more easily. There was a quote I read somewhere "Beware the advice of a rich man, for he does not wish company"

[tabs]

Originally Posted by dennis in se pa

At his age I am not surprised. Old fellow here myself.

Munger is older than Buffet

[tabs]

Originally Posted by Sooner or later

He needs to do something. YTD Berkshire Hathaway has underperformed the S&P 500 by about 10%.

S&P 3257 to 3372
BH 342,261 to 316,352

Buffet/Munger is of the generation that understands RISK...knowing NOT TO GET GREEDY when the risk levels are high. Better to fore go profits than risk losing heavily. That is something that is LOST ON THE SUCCEEDING GENERATIONS...you have always had it good and DO NOT KNOW that the situation can go south on a dime.

The fact you criticize him denotes that you are one of the know nothing flock of Sheep.

[tabs]

Originally Posted by widebody911

^This. That's the whole point of the "market analyst" industry - to herd the retail investing sheep into the chutes so their 401k's can be fleeced more easily. There was a quote I read somewhere "Beware the advice of a rich man, for he does not wish company"

Whenever a Equities guy gives a recommendation for a stock they already have their position and will be selling off into the uptick..

You can listen to their general take on economic conditions but when it comes down to a specific stock...well it is just a sales pitch..

Your pov is cynical..as you add a emotionally pejorative bias to your assessment.

[island911]

Originally Posted by tabs

..

Your pov is cynical....

LOL

I suppose that not everyone can share in your exuding optimism.

[dennis in se pa]

You guys seem to find ANY REASON to be nasty to one another. How about some civility? Or just STFU?

[tabs]

Originally Posted by pavulon

So when gold hits 5K and it's time to sell it and the dollar is "toilet paper", what do you take as payment?

You trade it for today's spot price in your flavor of currency and make sure you buy whatever you need to buy TODAY..cause tomorrow who knows what the spot price maybe?


All of these azzholes have been sayin today it is different and Gold ain't gona be no good...yeah fkin right..that fly's in the face of 5000 years of human history..that's why Gold is hittin brand new highs... These guy's are fkin Genius's ...

[tabs]

Originally Posted by island911

LOL

I suppose that not everyone can share in your exuding optimism.

There is a reason why my assessments holds sway... I state the facts without a pejorative emotional bias that colours or shades my assessment. I do not put a moral or emotional judgment on my assessments. That make me very unique..

If you read through what I write, it has a dead pan or emotional-less quality to it..

If I am describing something that is blue in colour, I don't go sayin that, "Isn't that a lovely shade of blue.."

BTW I have not seen ANYBODY on this Board in nearly 20 years be able to separate out their own bias's.

[pwd72s]

I bought some maple leafs decades ago...they sure are pretty to look at. Guess I could sell them for a lot more than I paid, but really don't have the need to do so.

[pmax]

Originally Posted by tabs

You trade it for today's spot price in your flavor of currency

But then you have to carry it to your favorite bullion shop.

Gold's heavy.

[RWebb]