Worth Considering
Welcome Aboard, Warren
“It doesn’t do anything but sit there and look at you.”
Until recently, Warren Buffett’s opinion on gold seemed pretty clear. That seems to have changed a bit, though.
Okay. So maybe he didn’t actually buy gold. But he bought shares in Canadian gold miner Barrick Gold through his investment company Berkshire Hathaway. 20.9 million shares, to be exact – all while selling his Goldman Sachs majority (84%) share.
While this doesn’t prove that he’s had a change of heart on gold ownership per se, it may suggest a change in his faith in the American dollar/economy. Or maybe he’s found a reason in something I’ve been saying for quite a while now: Gold is tangible, portable, and private. It is the ultimate insurance against the type of economic catastrophe we’ve been dreading.
While I wouldn’t call myself an elite numismatist, I have always been a supporter of precious metals (namely gold) ownership and have written about it a few times. In fact, I recently wrote a beginner’s guide for buying gold bullion coins that you might want to check out. Maybe it will inspire you to join the millions of us who are collectors.
Meanwhile, for whatever reason…
Welcome aboard, Warren.