Probably, the same guy, who went perma long in 2011. What recent events have proven, that when the crap hits the fence, it's ain't gonna be about the gold, but about toilet paper ETF's.
then that guy was a noob [the trade didn't make sense in many levels]. gold has been a good hedge (versus utilities). Do you know why people prefer equity ETF's over gold (according to your theory, "it's ain't gonna be about the gold, when crap hits the fans, but about toilet paper ETFs"; I think you're talking about the equity ETF's not the gold ETF)?
That was a joke. (Laughs) Noob breaking even by now, after a decade. Kudos for willpower tho. Yet, know folks, who still holds DDD with expectations to break even too. At least.
Don't listen to Buffett, he's one of the greediest investors around so if he thinks Gold/Silver is going sky high, he'll be a buyer for sure because he cannot resist some easy $$$. Not necessarily for BRK but for his PA account. Plus, as the man always admits, he's been wrong countless times in the past re investments so who says he's going to be right when he says don't go near Gold? Gold is breaking all-time highs. When any market does that it's often telling us all something.
Abbot, - this text, sounds as if someone had, few jars too many of Sunday's ale. That was a funny part. If to be serious, - i don't know if he said anywhere that gold/silver is going to sky, actually, what he means, (and what reality is), that those metals are tragically under performing. Second line is contradicting with the first one. Beside, even if wrong, still a $100Billion man, so any folk out there, much rather should be listening to him, than some random silver guru. Simple folks, better off, perma long in SPY/QQQ, if lacking skills on equity picking.
Nobs I know what Buffett means. What I'm saying is he knows full well that there's a time to not own Gold/Silver (arguably 75%+ of the time) and seek out investments that hopefully offer natural growth and pay an income (like Coke). Then there's a time to own Gold. Right now probabilities suggest that owning Gold is the right thing to do and therefore I wouldn't be surprised at all if Buffett is long Gold/Silver. He's done it many times before afterall. Buffett also knows full well that Gold is basically a currency and therefore it rises and falls against all the other currencies. He's a master of economics hence his view on currency exchange rates will be very solid hence if he views Gold/USD is a solid trade, I reckon he'll take it expecially if those excess $ he has aren't doing much, ie not willing to invest them and not making much interest and may well be losing money in real terms. Basically he's no dope but greedy for a profit so him buying Gold and/or Gold related companies (many pay a dividend!) makes complete sense to me. PS. I don't own any Silver and never have.
Didn't had you in mind with silver. Thanks for the insights about him owning gold. Didn't knew. Do you know how big were his positions in gold, whenever be did that ?