Home | Community | Message Board


This site includes paid links. Please support our sponsors.


Welcome to the Shroomery Message Board! You are experiencing a small sample of what the site has to offer. Please login or register to post messages and view our exclusive members-only content. You'll gain access to additional forums, file attachments, board customizations, encrypted private messages, and much more!

Kraken Kratom Shop: Red Vein Kratom

Jump to first unread post Pages: 1
InvisibleAsante
Mage
Male User Gallery

Registered: 02/06/02
Posts: 86,795
Warren Buffet dumps bank stocks and buys gold stocks with both hands
    #26891197 - 08/21/20 07:35 AM (3 years, 5 months ago)

Warren Buffet, who has always been very much against gold as an asset class, now buys gold stock and is dumping major US banks hard - Goldman Sacks, entire position cleared out, 62% of his JP Morgan, out the door, 25% of Wells Fargo, dropped.


Forbes.com

Warren Buffett confuses Wall Street as he buys gold, sells Goldman Sachs

Not so useless after all.. :gold:

It seems we are entering, as the Chinese curse calls it, "interesting times".

It seems he foresees a future where banks diminish and demand for gold as a hedge for capital increases.


--------------------
Omnicyclion.org
higher knowledge starts here


Extras: Filter Print Post Top
OfflineKryptos
Stranger
 User Gallery
Registered: 11/01/14
Posts: 12,262
Last seen: 55 minutes, 34 seconds
Re: Warren Buffet dumps bank stocks and buys gold stocks with both hands [Re: Asante]
    #26892438 - 08/21/20 08:20 PM (3 years, 5 months ago)

Kind of a meta post, but I've been souring on the idea of Warren Buffet for a while. To be more specific, all "professional" investors.

The way I understand it, you have 100 investors in a room making 100 different bets. One of those bets pays off big. No skill is involved at the time that the bets are placed, and 99 of those investors are forgotten as no skill losers. that one guy that made the right bet, though, he suddenly becomes a guru that people write articles about. How "skillfully" he made that decision.

You know the Winklevoss Twins? They're worth 1.8B right now. Bitcoin billionaires. Did they make the right call, buying up cheap bitcoin in large quantities back when I used it to buy MDMA on the Silk Road? Yes. In retrospect. If I had saved all the bitcoins I used in the process of operating my, uh, "small business" in college, I'd be a millionaire now. I'd probably have some debt because I wouldn't have paid off my rent in college, but the amount of bitcoins that passed through my hands back when they were a few dollars each? I wouldn't have any debts now. Did I make the wrong decision?

Did they know they made the right call? Nope. They just had some spare cash lying around.

Anyway, I'd say a better strategy is to keep calm and carry on, put the majority of your money into the SP500 consistently every week. DCA. Keep a few thousand to play with, maybe you'll make a billion dollars on the next bitcoin, but don't plan on it, and never blindly follow the "greats".

Edit: Also, you'll never make crazy bank on gold. If you wanna get that crazy return on investment that makes someone a "great investor" like Buffet, you need to identify and jump on the new big thing. Gold won't ever jump 1000% in value, unless the dollar drops through the floor.


Edited by Kryptos (08/21/20 08:24 PM)


Extras: Filter Print Post Top
Invisiblebudmanman
OTD Masterbater
Male


Registered: 02/07/07
Posts: 17,974
Loc: PNW
Re: Warren Buffet dumps bank stocks and buys gold stocks with both hands [Re: Kryptos]
    #26894007 - 08/22/20 05:59 PM (3 years, 5 months ago)

Getting rich in Warren Buffets prime was fucking easy.

You would taste a Coca cola and be like damn this is fucking delicious and invest lol


--------------------
Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal.

And I am mentally unstable.


Extras: Filter Print Post Top
OfflineBrian Jones
Club 27
Male User Gallery


Registered: 12/18/12
Posts: 12,340
Loc: attending Snake Church
Last seen: 3 hours, 5 minutes
Re: Warren Buffet dumps bank stocks and buys gold stocks with both hands [Re: Asante]
    #26894214 - 08/22/20 08:04 PM (3 years, 5 months ago)

Actually Warren Buffet bought very little gold stocks. It's current value is $613 million, which is a quarter percent of Berkshire Hathaway. In the period from February 21st up to yesterday, he increased his stake in Apple from 32% to 51% of the entire portfolio. Apple has continued to gain in anticipation of it's 4 for 1 stock split next week, and rose 5.1% yesterday alone.

Tech is driving this market, but for how long? And who knows if will plateau or crash.


--------------------
"The Rolling Stones will break up over Brian Jones' dead body"    John Lennon

I don't want no commies in my car. No Christians either.

The worst thing about corruption is that it works so well,


Extras: Filter Print Post Top
Jump to top Pages: 1

Kraken Kratom Shop: Red Vein Kratom


Similar ThreadsPosterViewsRepliesLast post
* STOCKS - An Intro Tutorial & Ongoing Discussion
( 1 2 3 4 ... 289 290 )
geokillsA 296,583 5,796 01/22/24 08:56 PM
by geokills
* first time stock buyer youbreakyoubuy 1,480 13 10/29/08 10:30 AM
by badchad
* Warren Buffett on the Bailout GnosticWarrior 1,007 8 10/04/08 12:53 PM
by GnosticWarrior
* Bank of America Buys Subprime Lender Countrywide DiploidM 1,234 2 01/13/08 11:08 AM
by geokills
* Free Lakota Bank
( 1 2 3 all )
Mr.Al 7,976 57 12/02/08 05:28 AM
by JaComet
* CN- Stock purchasing history, and investment musings ZippoZM 613 1 10/22/08 08:59 PM
by Irradiated_Feces
* Stock Traders: What are your positions?!
( 1 2 3 all )
geokillsA 12,869 48 01/28/06 10:40 PM
by LiquidSmoke
* .
( 1 2 all )
AnonymousRabbit 4,342 21 10/28/08 12:09 PM
by ChuangTzu

Extra information
You cannot start new topics / You cannot reply to topics
HTML is disabled / BBCode is enabled
Moderator: geokills, automan
362 topic views. 0 members, 1 guests and 1 web crawlers are browsing this forum.
[ Show Images Only | Sort by Score | Print Topic ]
Search this thread:

Copyright 1997-2024 Mind Media. Some rights reserved.

Generated in 0.019 seconds spending 0.006 seconds on 14 queries.