Warren Buffett’s Berkshire Hathaway (BRK-A, BRK-B) stock moves for the second-quarter are out, revealing a new position in Barrick Gold.
According to a 13-F regulatory filing, Berkshire Hathaway snapped up approximately 20.9 million shares of Barrick Gold (GOLD), a position valued at $563.5 million at the end of the quarter.
Shares of the gold exploration company were last trading up about 3% near $27.76 per share in the after-hours session.
Berkshire exited its stake in Goldman Sachs (GS), selling the remaining 1.9 million shares, the filing shows.
During the quarter, slashed its positions in financials, including Wells Fargo (WFC) and JPMorgan Chase (JPM). Specifically, Berkshire cut its JPMorgan stake by 61%, selling 35.5 million shares to last own 22.2 million shares, a position valued at $2.01 billion at the quarter’s end. Berkshire also cut Wells Fargo by 26%, selling 85.63 million shares to last own 237.58 million shares, a stake worth $6.1 billion at the quarter’s end.
Elsewhere, Berkshire added to its stake in grocery chain Kroger (KR), buying 3 million additional shares in the quarter. The company last held 21.9 million shares in Kroger, a position valued at $742.6 million at the end of the quarter.
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Hell yea that’s my biggest holding
ur buy price
My biggest Holding $$
@nsk s so I just buy from the barrick gold app correct?
@keep it real ur location , as
@keep it real ur location
nsk s Good luck with that. Timing buying back on pullbacks is a losing proposition. The Fed will never be able to meaningfully stop printing of money and significantly raise rates without crashing the market,
Any blind person knows this.
@Stephen MIHALY u dont hve to worry of big things just buy at 21 , patience pays heavily
ideal price 21 , 22 since pe 10
Let the financial crisis begin…
Robin woohoo, I’ve been waiting over ten years
@Doug Dennis The Alkaline Life Coach do u think gold price will go up with this development?
@Akshay Dixit I’m not a financial advisor, but I think the gold price was already going to go up, and now it appears Berkshire thinks so too.
Silver will follow
Taxing extinguishes barter. Barter only survives if it extinguishes the tourist, but not for long. The market is the graveyard of commerce, and it survives from deception, but not for long.
Buffet did a 180 degrees turn on his fundamentals. Stonks only go up guys shitting their pants rn.
lmao this is so huge. berkshire got rid of such a huge chunk of their financial holdings
Crack up boom happening as we speak. For now yes melt ☝. Just look at venezuelas markets for how it will prob look.
20 million out of a cash reserve of 128 billion cash……….that works out to 0.015% It is nothing. He is only doing this to keep investors happy. To shut them up. He is waiting for the right opportunity………..and then he and a few others will buy up EVERYTHING.
@Rayave Online over 1/2 billion dollars
@Joe Lewus he would’ve averaged 20 a share ie 400 m or half a billion
ok, a lot more than 20 million
He bought over 500 million dollars worth of Barrick which equals to 20 million shares
@BaLLa true
He finally wised up
@nsk s he made a lot more in the 2 years trading than sitting on gold, but its the right time to sit now
@Luke McKee nobody told to trade . buy gold at 1200 and sit
@nsk s which would have been a bad choice for him at that time, now he sees no yeid in bonds so he is hedging with gold
Luke McKee And inflation/stagflation around the corner
@Stephen MIHALY what u mean is a pullback , that is why buy at 21 . now both agree , nice
All ready for the next great depression, eh?
Schadenfreude!
@Vincent Conti it is a shame whats going to happen but I’m not taking any joy from my statement!
Chris D system gonna fail soon one way or the other.
What I’m saying is in the first great depression or war time the rich buy gold because it retains its value even in and after times of crisis.
Cramer has been pushing barrick gold stock forever
@Windsor4270 do you have any you recommend? I’m clueless when it comes to gold/gold mining stocks
@MostNaturalMedia Equinox gold is very undervalued. Eldorado, Osisko gold royalty, Kirkland Lake, SSR mining, Pan American Silver, and of course the ETFs like the GDXJ and SILJ if ya don’t wanna do much maintenance. I have others but that’s a pretty good group of stocks that should do very very well over the next 2 or 3 years. If i was a betting man, Equinox will be up over 100% in the next 12 to 18 months. They have a huge growth profile, low costs and a fantastic management team. Diversify unless buying the index like silj or gdxj. Silver should also do fantastic if not better than gold, however it’s more volatile.
MostNaturalMedia Its a small world. The larger producers which are the safest plays are NEM, AEM, AGI. GDX is an ETF. Lots of madcap producers and junior mining companies but far more volatility.
@Windsor4270 Thank you man, really appreciate that. I have a feeling we will have a total economic collapse eventually here
@Stephen MIHALY Ok thank you!
Well well, betting against America aren’t we?
Not just America.
betting against the world baby
@MostNaturalMedia Let the world burn then.
J M No just common sense. Everyone should have “insurance” against the gross level if money printing and debasing of the currency.
If Buffett’s buying gold that can only mean the apocalypse is coming.
Only mean?..haaaaa..
It means inflation will increase
This is exactly what they want you think…
If is news now, probably they are already selling everything to all the guys that are already placing orders after this news…
@Rob M Just the beginning. Think about all the investors that will follow.
That’s what I said 😂
I second that fact.
This is huge. When Buffett buys gold
We’re deep crap. I like how he is getting dividend on GOLD. Get ready for a massive stock market collapse.
O L which will be never. They were not able to do in the last 12 years
@Stephen MIHALY well they actually stopped printing in like 2015 and started back im 2019 i think
@vincentrich – Banned But Not Forgotten Whatever makes you hopeful, i’m unhappy too that warren came out too early telling people to buy i needed to add on more still god damn it.
@J Beav All i know is it already happened, but i think you can get through it, Like Japan. They are still going through it…
@O L *BUT IT’S A COMIN’ as we can see all the fundamentals are wrong* 🛬💥 📉
Been pretty obvious gold was going to go up. Money printing has been non-stop, soon money will be worth the same as a ply of toilet paper.
Wow, he finally wised up and started crunching numbers. These gold miners are going to be printing money at 1800 to 2000 dollar gold. The free cash flow is going to be unbelievable and over 2000 dollars an ounce look out. The gold bull market is just getting started and with the macro environment it’s likely to last a long time. Hang on folks and get your positions in place. Not too late because some of these miners like Equinox gold are still very cheap. The royalty companies like Sandstorm, Osisko royalties are still attractive also.
Half a billion is still peanuts relative to Berkshire’s cash.
@theaccountof2009 He’s buying because the last time gold prices made a massive new high they stuck around the high for 2 years. There’s also nothing fundamental that would make gold dip right now. The price of gold is economical and extremely profitable at this point. It is likely that the price of gold stays around this price or higher for a similar period until things settle down. Barrick is set to make around US $5billion per year profit at current price as their AISC is only $950ish. The margins are huge.
@theaccountof2009 We all are.
He probably bought more after 6/30 and we won’t know until 45 days after 9/30/2020
aroundandround There is a very good chance Berkshire has bought even more Stock in gold mining since June 30 before the release of 13D filing yesterday
@theaccountof2009 100% Insurance against the coming fall and I don’t mean the season🍃
Buffett buy Gold mining stocks!?!?!? 😂
Classic. Say 1 thing but do another.
Varis No. His prior reasoning was quite sound. What’s changed are the facts. It will be interesting to hear what he says why he bought Barrick and how long he expects to hold it – ie until the Fed raises rates appreciably – which is unlikely to happen for a couple years at least and probably a lot longer than that
Stephen MIHALY it was just earlier this year he was stating to never bet against the US economy. Placing a bet in gold is hedging against the us economy.
Varis it’s insurance and hedging. 0.3% of portfolio is not what so would call betting against the US. If he put 25%+ of Berkshires assets in PMs – that would be voting against all central banks. But it could be interpreted as a wake up call to investors (and the Fed and politicians) to stop the money printing and debasement of the currency. But it may be too late for the Fed to dig out of the hole they have dug the country into – but I am sure that is not his view.
Gold always wins in the end.
Stocks are much better in a long-term
@Californication I’m still holding on to my Venezuelan Petroleum stocks🇻🇪, gonna pay off any day now….or any day now….maybe a few decades….just a few centuries….just 1 more millennium…I swear the Space Aliens or Zombies who are ruling Earth by then will be damn grateful that I set them up so well financially! Long game baby! LOOOOOOONNNNNNGGGGGG GGGAAAAMMMMEEEE!!!! 💸💸💸
@Yogi Chong I bet on America in a long-term but for great companies. Mostly tech and I will probably hedge my positions shotring index below 20% drop off. Maybe when Biden will win the election? Who knows. Right now I follow the trend and make great results.
@Californication I mostly meant gold Vs. fiat currencies. Governments always debase their currencies, and the people always return to gold.
I’d imagine warren buffet has been watching gold very closely but due to the gold mining industry being a tiny fraction of the market cap of the other markets for which buffet is invested with (Apple for example), he is limited with how much he can invest. One thing that I would say is that due to the amount of capital Warren handles he is limited and would not invest in junior / mid-tier gold mining companies (Such as Eldorado Gold ‘EGO’ or Condor Gold) which the nimble average Joe can do and have substantially higher returns
*I want you guys to respond with your predictions on when the next crash will occur, feel free to respond whether you think the crash will happen tomorrow or five years from now.. ready, set, go*
MostNaturalMedia within the next 5 years for sure and probably within the next year
Same guy who hated on gold jumps on gold. Ok.
Same guy? You know more than that guy? Right.
@Vincent Conti What does this incomprehensible mumbo jumbo mean!
Firre Torr if Buffet was Predicted debt and Congress would do what he wants he would not be in gold and the country would be 100 times better off than what has been going on the last 20 years (the dollar is down 85-90% against gold in the last 20 years and will be down over 90% very soon
just confirms the incoming crash from fed printing absurd amounts of money keeping markets artificially high. Looks like I should buy some Gold soon😂
I think we both should have already bought some lol but i think you will find better value in a gold mining company!
50% physical gold deep down in your garden and 50% in miners.
But dont forget the little sister Silver.
@C….14x Im actually thinking there’s more upside in silver but again own none 😅 should have trusted in myself and purchased in may
Anyone whose followed Berkshire over the years can basically guarantee you it was Ted or Todd who bought Barrick…
Yeah. There’s no way that Buffett did that.
vincentrich – Banned But Not Forgotten Barrick is probably the best performing investment by far in his portfolio this year other than for Apple
Yeah, Warren will be p$$sed when he finds out.
WTF is Ted or Todd?
Yea but do you think they would be able to buy a barrick without running it by Buffett?
up 500% and Jaguar mining just declared a dividend. Still under $1 👍 Thank me later
“Under $1” doesn’t automatically mean that it’s worth it.
Diluted shares and in a rough jurisdiction. Makes me nervous in this environment
So he sold 5 billions $ worth of banks and bought 0,5 billions $ of gold mining. Maybe he haven’t got the don’t fight the FED memo or maybe he knows better?
He bought a gold mining company not gold itself. I’d say he’s selling other banks because hes loading up on BOA.
boa?
@Diego Perez Bank of America
Bank of America is actually “BAC”,
@Eliot .
It’s like these reporters don’t actually have a clue what they are talking about. Do I really have to look up what Barrick is trading at and multiple the shares to figure out how big the position is? Shouldn’t that be step one when reporting on this?
I feel like its a fundamental flaw with market journalism. If any of these people were actually good at finance they wouldn’t be working at Yahoo
Too late, gold already reach record high. Should have bought it sooner.
do phong He did. But it’s far from too late to invest in the sector. It is just starting.
Buffet won’t be selling for at least another 1-2 years minimum and probably a lot longer than that. When the Fed prints and prints more money and debases the currency so much (vis-a-vis PMs), it is now virtually impossible to dig themselves out of the whole they have dug for themselves and the country.
Be WISE. ”VOTE TRUMP 2020” If you a Living Fish. Living Fish swim thro’ the Current.
DEAD fish FLOWS with the Current/Cultures/MEDIA – BIAS FAKE NEWS.
America & the World NEEDs TRUMP
The fish that swims against the current is usually dinner or on their way to spawn and die.
“Bullish on America” Buffet buying a Canadian company and selling an American one. nice.
Extraordinary times.
A gold mining company at that.
BarkusMuhl it’s
Only common sense. He is still way under-weight PMs
Barricks is more a bankers company than Canadian
Did she just woke up?
He hates gold. Wow.
morgan stanley does not appear any more on his portfolio ,it means he sold out and he sold 100% of Goldman sachs & reduced 62% of all banks stocks it seems like 2008-2009 Financial crisis all over again
Lending is getting tight right now. Sound familiar??! Even worse than 2008 is the fact that smart contracts via crypto currency can and will completely automate and replace manny financial transactions in the near future marking banks redundant.
nice
Peter Schiff is laughing his ass off on this! So funny that Warren joined gold bugs
still waiting on his video update i bet his laughing so much on that episode
I bet Peter Schiff is coming out with a video either tonight 8/15 or Sunday 8/16 to discuss this shocking development
Vanessa he certainly did lol
Howard Buffett is rolling in his grave.
Interesting but Barrick is one of the worst performing gold mining stocks in the last decade. It’s just the biggest. He should have bought gold mining stocks 2-3 years ago before the run up in the gold price. This is similar to his pivot in to AAPL 6-8 late.
M Stevens Barrick is a very different company in the last couple years than in the past. It is going to be a cash cow for years
@Stephen MIHALY I hope your right. They are hard to avoid in the big ETFs.
We are in a crappy place now we need to store gold
Peter Schiffted him by 0.3% 😂
If Walmart removes an item from its shelf due to pricing issue, no one would care. I think Apple and Google has all the rights to do what they like because it’s their stores.
Big whoop only purchased about half a billion dollars of Barricks, compared to his overall net worth. Big fear play to manipulate the markets. sad.
That’s a huge deal!!! Warren Buffett just converts to bullish on gold. This is a shocking news to the financial world. We need another exclusive interview with Warren Buffett. He is a man who knows how to adapt to a changing environment. This is a perfect example of looking at what people do and not what they say.
Monday will be an incredible day for gold. Berkshire will buy bullion next.
I hope so. I have a position on gold and I’m waiting for it to pay. And silver too.
Can I invest in uranium?
Ask the Clintons.
If you’re planning on retiring with Social security and Medicare benefits you can forget it. The disastrous economic response to COVID is just beginning. By next spring America will look much different economically
So buy Crypto… XRP to be specific
SS was always a ponzi scheme.
Lol a fraction of his cash pile. Don’t mean nothing other than a small hedge
Big hedge actually. He’ll keep adding over time.
The point with Gold stocks is, they add significant leverage to physical gold. If Gold goes up 5 times and the market is expecting it to never come back down, the stock might go up 50-100 times or even more. Then it might become a significant part of the portfolio.
500 bl market cap company takes a .5% position in GOLD is meaningless, maybe he figured the spread between the gold price and gold stock price was large enough to take the risk.
In keeping up with the great American financial corps’ “forked tongue strategy” or FTS , Buffett buys gold while constantly criticizing it LOL He has been hanging around Goldman and JPM for far too long
In a zero sum game, one has to lose so that the other can win.
That guy has too much damn money
You don’t do this unless you think something bad is on the horizon.
The end of the boomer bucks standard.
gold stocks is not exactly gold
It’s not exactly not Gold either.
check out goldnsilversolutions on instagram for more information on the economy and why the dollar will eventually collapse.
All the comments are better than the video itself.
theaccountof2009 Financial news networks -a la “bubblevision” have always been clueless. They have not predicted a major downturn in the last 40 years
Gold/Gold Miners set to explode monday.
Hard to predict the outcome of this, since Buffet makes lots of mistakes and often sells out of huge investments at a terrible loss.
It was only a few weeks ago WB increased his stake with Bank of America and other banks…now he unloads all of Goldman Sachs and other banks after pumping them up….
Is WB trying to make his money back by being sleazy??? . Lol
Bet that woman was sitting in her underwear at home
IMO he is a little late to this rodeo, he may be loosing some sharpness.
Hi i bought this May 11th and it’s gone down $2.35CAD…
Shouldn’t the exact opposite be happening?
Better to be a year early then a day late
he knows banks are screwed
He bought stocks not gold, that is little difference. Bigger price of gold is bigger value of company.
Buffett probably asked Charlie Munger to begin “Trump-proofing” their portfolio.
Always thought he was against gold
Wow so his barrick stake was worth 550 million of 760billion total assets? Less than 0.1%? He holds 170b cash. That is 330x more than his gold allocation. If i have 100k cash and invest 300usd in gold hardly a big deal…
The blonde is banging.
Lol can’t wait for the Peter Schiff podcast
I wish people could get to the point.
Anyone please tell me will gold rise on Monday with this?
Absolutely, people follow WB and his investments. If he’s investing in Barrick Gold, the price will increase. It already has gone up $2 post market Friday so expect another 10-20% Monday premarket
The others will go up too
A lot of newbies and wannabes here know very little about Warren Buffett deep roots and his understanding of the monetary dynamics in relation to gold and other assets.
Warren father, Howard, was a staunch libertarian and Gold standard proponent. He actually got Murray Rothbard to hand sign a copy of his classic, “the American Great depression” for Warren. Warren was therefore well immersed into monetary policy, inflation, and business cycle from the onset.
He probably own millions of dollars, probably hundreds of millions worth of gold billions statched somewhere in a vault.
He therefore does not feel the need to “PUSH” the Gold trade since he is probably, and has been likely, personally insured against a systemic monetary meltdown.
Now, the fact that he is now openly purchasing gold stocks should be a warning to the naive who not too long ago were promoting the idea of dollar shortage and Deflation.
This might be either Todd or Ted
GOOOOOOLD!
Rick Rule responded to a question during a recent interview that we mortals need to invest in gold for protection and Warren Buffett does not need to because he has amazing stock picking ability. Guess Warren is a mortal after all!!!
Warren invests in Gold! 2020 is the end of the world or Warren had a stroke
Another power move to manipulate the market. This was just a fraction of what he sold his Goldman Sachs for. He’s sitting on tons of cash just from that deal alone. He’s waiting on something to happen. Like say an overreaction on precious metals to get back in to the financial sector.
Requoting Buffett “ …Rat poised squared “
So now he Chasing assets and gold prices
He bought back Berkshire stock which is the biggest laggard in the SP500, sold airlines/banks at the low, and NOW buying probably at a near term TOP. OLD MAN is out of touch. For the last this man has made all the wrong moves.
So all that stuff about gold being pointless was just bs
Well, not necessarily [bs] … he has just changed his mind, I think.
Not surprised he ditched Goldman Sachs
Mark my word, gold will lose it value by November
LOL
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Little late to the party there buffet😂😂😂
He should have bought at $10-$13 in 2018 like I did. 😆 Now the price is nearly $30 and the fact he is buying now means he believes it will go much higher in the long term.
Buffet brought a billion dollars in Bank Of America
Small people like us enjoying his peanut type of half a billion position 😂
Way too bullish, i wanted to slow add on more not already!
STOP TALKING ABOUT MY GOLD! I HAVENT BOUGHT NEARLY ENOUGH YET!
I saw Buffet bad mouthing gold and telling folks they should invest in land and. Have the land make you money with farming. But I ignored this wealthy guru and collected gold. And now he’s following us? Pretty funny
Has Buffet ever bought Gold? He used to be against gold
I’m buying shares Monday morning. It’s definitely going to go up. I believe it will reach all time highs.
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