Warren Buffett Buys a Stake in Barrick Gold

Posted on by EconomicAlpha

Warren Buffett’s Berkshire Hathaway has taken a 20.9M share position in Barrick Gold, according to the most recently filed 13F. https://www.sec.gov/Archives/edgar/data/1067983/000095012320009058/xslForm13F_X01/960.xml. The stock is up 7% after market on the news.

Will be interesting to see what this will do to the sector as a whole.

“Gold gets dug out of the ground in Africa, or some place. The we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head.” — Warren Buffett

“The magical metal was no match for the American mettle.” — Warren Buffett

I guess FCF is FCF. And Widgets are Widgets. And Margins are Margins.

Published by EconomicAlpha

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