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InvisibleAsante
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Warren Buffet dumps bank stocks and buys gold stocks with both hands * 3
    #26891642 - 08/21/20 12:10 PM (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.


I thought I'd mention that here too, as its a sign of the times.


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InvisibleEminence
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Re: Warren Buffet dumps bank stocks and buys gold stocks with both hands [Re: Asante]
    #26891724 - 08/21/20 12:55 PM (3 years, 5 months ago)

Why would he be against gold?


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OfflineLogicaL ChaosM
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Re: Warren Buffet dumps bank stocks and buys gold stocks with both hands [Re: Eminence]
    #26891740 - 08/21/20 01:01 PM (3 years, 5 months ago)

Hes into Gold stocks specifically, it seems: https://www.thestreet.com/mishtalk/economics/no-warren-buffet-did-not-buy-gold

Quote:

What makes this portfolio addition such a head-scratcher is that Buffett has never been a fan of gold, the physical metal. Buffett has for decades harped on physical gold's lack of utility. This is to say that gold isn't used to produce anything. When Buffett buys a bank stock or Coca-Cola, he knows these are businesses that'll keep churning out products or services that generate consistent revenue and cash flow. Meanwhile, gold is a piece of lustrous metal that, in Buffett's eyes, (Gold) takes up storage space and racks up security fees.




https://www.fool.com/investing/2020/08/20/warren-buffett-just-bought-a-gold-stock-or-did-he/


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InvisibleAsante
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Re: Warren Buffet dumps bank stocks and buys gold stocks with both hands [Re: Eminence]
    #26891762 - 08/21/20 01:15 PM (3 years, 5 months ago)

Quote:

Eminence said:
Why would he be against gold?





He was against gold because its a passive store of value rather than a dynamic investment.

He probably still feels that way but given that he just sunk over half a billion into a goldmine shows he probably foresees uncertain times where people will reach for gold.

Note that combined with the massive dumping of bank stocks.

It shows how gloomy he forecasts the time ahead, as a hater of gold, to invest into its production.

Note that if you buy a gold stock, the valuable asset is already in the ground, it just takes your company to take it out. Thats less uncertain than an agricultural future where crops can fail.

Not as much he thinks gold will go to the roof as that he hedges that the dollar may go through the floor.





Guys.. YOU ARE GOING TO BE #2. THE DEBT AND POTHOLES ARE ALREADY THERE. Prepare for it so you can benefit from the change of power.


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Offlinekoods
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Re: Warren Buffet dumps bank stocks and buys gold stocks with both hands [Re: Eminence]
    #26891811 - 08/21/20 01:49 PM (3 years, 5 months ago)

Wait hold up. He bought shares in a mining company. He didn’t buy gold metal.


Quote:

Eminence said:
Why would he be against gold?




He’s probably against gold as an asset because it’s a fucking metal. It has no value other than what it is worth to industry and whatever weirdos are willing to pay for it because they think it has some kind of magical ability to be used as cash. If Buffett thought the world was so broken that we’d be forced to barter with gold, he wouldn’t be investing in businesses.


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NotSheekle said
“if I believed she was 16 I would become unattracted to her”


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Offlinekoods
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Re: Warren Buffet dumps bank stocks and buys gold stocks with both hands [Re: koods]
    #26891821 - 08/21/20 01:53 PM (3 years, 5 months ago)

Quote:

He probably still feels that way but given that he just sunk over half a billion into a goldmine shows he probably foresees uncertain times where people will reach for gold.





If that we’re true then he would have just bought gold. He bought into a mining business. Probably because he thinks they can make money processing gold deposits.


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NotSheekle said
“if I believed she was 16 I would become unattracted to her”


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InvisibleAsante
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Re: Warren Buffet dumps bank stocks and buys gold stocks with both hands [Re: koods]
    #26891845 - 08/21/20 02:04 PM (3 years, 5 months ago)

Think along with my words Koods: He anticipates an increased demand on gold because of the uncertain times so he invests in a producer of the stuff who can produce it at the best price.

Already said that!

He anticipates a long hot summer so he invests in a major ice cream cart manufacturer.


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Omnicyclion.org
higher knowledge starts here


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Offlinegopher
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Re: Warren Buffet dumps bank stocks and buys gold stocks with both hands [Re: koods]
    #26891847 - 08/21/20 02:05 PM (3 years, 5 months ago)

I think it was Buffet I heard him say we dig gold up from underground then put it back into a bunker underground and pay guards to watch over it


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For most of the normies out there, an operating system is just a bootloader for Google Chrome.

Since Disney has obtained tremendous value from the public domain, knows how important the public domain is, and is firmly determined to never contribute anything to it.

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InvisibleAsante
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Re: Warren Buffet dumps bank stocks and buys gold stocks with both hands [Re: gopher] * 1
    #26891857 - 08/21/20 02:10 PM (3 years, 5 months ago)

Quote:

gopher said:
I think it was Buffet I heard him say we dig gold up from underground then put it back into a bunker underground and pay guards to watch over it





That was him yes!


Gold represents stagnance for him, money not going angwhere. but money not going anywhere in a time where the other money is going to shit is progress.


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Omnicyclion.org
higher knowledge starts here


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Offlinekoods
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Re: Warren Buffet dumps bank stocks and buys gold stocks with both hands [Re: Asante]
    #26891945 - 08/21/20 02:52 PM (3 years, 5 months ago)

Quote:

Asante said:
Think along with my words Koods: He anticipates an increased demand on gold because of the uncertain times so he invests in a producer of the stuff who can produce it at the best price.

Already said that!

He anticipates a long hot summer so he invests in a major ice cream cart manufacturer.




Buying into a mining operation isn’t a demand play, it’s a supply play.


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NotSheekle said
“if I believed she was 16 I would become unattracted to her”


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InvisibleShiithead
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Re: Warren Buffet dumps bank stocks and buys gold stocks with both hands [Re: koods]
    #26892067 - 08/21/20 03:54 PM (3 years, 5 months ago)

Thanks for posting this Asante... it looks like he is trying to maintain control. Be on the lookout for anyone buying large amounts of silver too.


--------------------

Ephesians 6:12
For we wrestle not against flesh and blood, but against principalities, against powers, against the rulers of the darkness of this world, against spiritual wickedness in high places.
Psalm 12:6
The words of the Lord are pure words: as silver tried in a furnace of earth, purified seven times.
Hebrews 11:3
Through faith we understand that the worlds were framed by the word of God, so that things which are seen were not made of things which do appear.
Revelation 3:11
Behold, I come quickly: hold that fast which thou hast, that no man take thy crown.


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OfflineYeetusdeetus
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Re: Warren Buffet dumps bank stocks and buys gold stocks with both hands [Re: Shiithead]
    #26892235 - 08/21/20 06:19 PM (3 years, 5 months ago)

Plot twist, electronics with gold components are about to become the standard as the faster processing speed is extremely desirable compared to products with silicon components.:feelsgoatman:


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OfflinePatlal
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Re: Warren Buffet dumps bank stocks and buys gold stocks with both hands [Re: Yeetusdeetus]
    #26892303 - 08/21/20 07:00 PM (3 years, 5 months ago)

I own a goldmine and I'm worth 900 million dollars.


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Invisiblepsi
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Re: Warren Buffet dumps bank stocks and buys gold stocks with both hands [Re: Yeetusdeetus]
    #26892352 - 08/21/20 07:35 PM (3 years, 5 months ago)

Gold is already pretty common in electronics. Not for speed but for corrosion resistance on contacts. Gold actually doesn't have exceptional conductivity, it's worse than copper and a bit better than aluminum. Silver is the most conductive elemental metal.


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Offlinekoods
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Re: Warren Buffet dumps bank stocks and buys gold stocks with both hands [Re: psi]
    #26892367 - 08/21/20 07:44 PM (3 years, 5 months ago)

Yeah gold doesn’t form an oxide layer under normal conditions, plus it’s a bit soft so you get very good contacts.

By weight, aluminum is by far the best conductor, and even by volume it’s very good for most applications. The problem is it forms a non conductive layer almost instantly on contact with air, so making connections can be problematic and it is a very reactive metal and it is possible to load wires enough that they can burn if they get too hot. I believe aluminum wiring is banned for most residential and commercial wiring, but it is used extensively in high tech situations  where weight is important.


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NotSheekle said
“if I believed she was 16 I would become unattracted to her”


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Invisiblecannabinated
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Re: Warren Buffet dumps bank stocks and buys gold stocks with both hands [Re: psi]
    #26892368 - 08/21/20 07:44 PM (3 years, 5 months ago)

good for him, giving amazonian and african youths brain damage and cancer from mining


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Offlinekoods
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Re: Warren Buffet dumps bank stocks and buys gold stocks with both hands [Re: cannabinated]
    #26892370 - 08/21/20 07:46 PM (3 years, 5 months ago)

Some gold mining operations use massive amounts of cyanide


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Invisiblecannabinated
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Re: Warren Buffet dumps bank stocks and buys gold stocks with both hands [Re: koods]
    #26892371 - 08/21/20 07:46 PM (3 years, 5 months ago)

go to sleep young one...


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InvisibleCrazy_Horse
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Re: Warren Buffet dumps bank stocks and buys gold stocks with both hands [Re: Asante]
    #26892396 - 08/21/20 08:00 PM (3 years, 5 months ago)

I lived in a house with aluminum wiring.


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Offlinekoods
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Re: Warren Buffet dumps bank stocks and buys gold stocks with both hands [Re: Crazy_Horse]
    #26892414 - 08/21/20 08:07 PM (3 years, 5 months ago)

Did it burn down?


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NotSheekle said
“if I believed she was 16 I would become unattracted to her”


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InvisibleCrazy_Horse
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Re: Warren Buffet dumps bank stocks and buys gold stocks with both hands [Re: koods]
    #26892449 - 08/21/20 08:30 PM (3 years, 5 months ago)

Not yet.


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InvisibleNiffla
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Re: Warren Buffet dumps bank stocks and buys gold stocks with both hands [Re: Patlal] * 1
    #26892490 - 08/21/20 08:56 PM (3 years, 5 months ago)

Quote:

Patlal said:
I own a goldmine and I'm worth 900 million dollars.




I airbnb'd at Patlal Gardens and that shit was falling apart, looked like a damn dilapidated crack den


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HAIL OUR NEW OTD KING


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Invisiblepsi
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Re: Warren Buffet dumps bank stocks and buys gold stocks with both hands [Re: Asante] * 1
    #26895357 - 08/23/20 12:38 PM (3 years, 5 months ago)

Doesn't look to me like a particularly good time to buy physical gold. Pretty close to all time highs even adjusting for inflation. Good time to already own it.


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OnlineCHeifM4sterDiezL
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Re: Warren Buffet dumps bank stocks and buys gold stocks with both hands [Re: koods]
    #26895371 - 08/23/20 12:54 PM (3 years, 5 months ago)

Quote:

koods said:
Yeah gold doesn’t form an oxide layer under normal conditions, plus it’s a bit soft so you get very good contacts.

By weight, aluminum is by far the best conductor, and even by volume it’s very good for most applications. The problem is it forms a non conductive layer almost instantly on contact with air, so making connections can be problematic and it is a very reactive metal and it is possible to load wires enough that they can burn if they get too hot. I believe aluminum wiring is banned for most residential and commercial wiring, but it is used extensively in high tech situations  where weight is important.



Pretty sure silver is the best conductor. Also buffet has made alot of what seems to me to be senile moves as of late. I dont think he's left his house since start of the pandemic. Also he plays with an enormous stack of chips totally different game.


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Offlinekoods
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Re: Warren Buffet dumps bank stocks and buys gold stocks with both hands [Re: CHeifM4sterDiezL]
    #26895391 - 08/23/20 01:11 PM (3 years, 5 months ago)

Aluminum is the best conductor by mass. Silver is the best conductor by volume. To get equivalent electrical resistance. a copper wire would weigh nearly twice as much as an aluminum wire.


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NotSheekle said
“if I believed she was 16 I would become unattracted to her”


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InvisibleCrazy_Horse
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Re: Warren Buffet dumps bank stocks and buys gold stocks with both hands [Re: koods]
    #26895497 - 08/23/20 02:10 PM (3 years, 5 months ago)

I lived in a house with aluminum woring.


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OnlineCHeifM4sterDiezL
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Re: Warren Buffet dumps bank stocks and buys gold stocks with both hands [Re: Crazy_Horse]
    #26895512 - 08/23/20 02:19 PM (3 years, 5 months ago)

Thats copper clad aluminum bro


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InvisibleShiithead
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Re: Warren Buffet dumps bank stocks and buys gold stocks with both hands [Re: CHeifM4sterDiezL]
    #26895515 - 08/23/20 02:20 PM (3 years, 5 months ago)

Silver is most thermal-conductive.


--------------------

Ephesians 6:12
For we wrestle not against flesh and blood, but against principalities, against powers, against the rulers of the darkness of this world, against spiritual wickedness in high places.
Psalm 12:6
The words of the Lord are pure words: as silver tried in a furnace of earth, purified seven times.
Hebrews 11:3
Through faith we understand that the worlds were framed by the word of God, so that things which are seen were not made of things which do appear.
Revelation 3:11
Behold, I come quickly: hold that fast which thou hast, that no man take thy crown.


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OnlineCHeifM4sterDiezL
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Re: Warren Buffet dumps bank stocks and buys gold stocks with both hands [Re: Shiithead]
    #26895557 - 08/23/20 02:48 PM (3 years, 5 months ago)

Why silver is better has to do with impedance or something dumb


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Offlinedownwardsfromzero
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Re: Warren Buffet dumps bank stocks and buys gold stocks with both hands [Re: CHeifM4sterDiezL]
    #26895612 - 08/23/20 03:31 PM (3 years, 5 months ago)

Silver is also the most reflective metal, before it gets tarnished. It is literally the shiniest. This is also because of its electronic properties. Don't ask me how though.


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InvisibleShiithead
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Re: Warren Buffet dumps bank stocks and buys gold stocks with both hands [Re: CHeifM4sterDiezL]
    #26895815 - 08/23/20 06:32 PM (3 years, 5 months ago)

Quote:

CHeifM4sterDiezL said:
Why silver is better has to do with impedance or something dumb




Any currency is associated with independence. Silver and gold has intrinsic value. However, silver is better for small trades.


--------------------

Ephesians 6:12
For we wrestle not against flesh and blood, but against principalities, against powers, against the rulers of the darkness of this world, against spiritual wickedness in high places.
Psalm 12:6
The words of the Lord are pure words: as silver tried in a furnace of earth, purified seven times.
Hebrews 11:3
Through faith we understand that the worlds were framed by the word of God, so that things which are seen were not made of things which do appear.
Revelation 3:11
Behold, I come quickly: hold that fast which thou hast, that no man take thy crown.


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InvisibleShiithead
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Re: Warren Buffet dumps bank stocks and buys gold stocks with both hands [Re: Shiithead]
    #26895825 - 08/23/20 06:37 PM (3 years, 5 months ago)

You may tie freedom with silver because of this though...



--------------------

Ephesians 6:12
For we wrestle not against flesh and blood, but against principalities, against powers, against the rulers of the darkness of this world, against spiritual wickedness in high places.
Psalm 12:6
The words of the Lord are pure words: as silver tried in a furnace of earth, purified seven times.
Hebrews 11:3
Through faith we understand that the worlds were framed by the word of God, so that things which are seen were not made of things which do appear.
Revelation 3:11
Behold, I come quickly: hold that fast which thou hast, that no man take thy crown.


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