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We’re currently drafting a letter to Warren and Charlie addressing the company’s decision to own shares of Barrick Gold. As the largest mining company that focuses on gold, its market cap is $53bn, compared with the $130bn in cash that Berkshire currently has on its books.
Exactly one week ago, on Sunday the 9th, I issued this type of CAUTIONARY TALE, and the following day was the WORST SELL-OFF in silver since the Lehman Weekend, and gold’s worst day in a decade.
Warren, I knew it wouldn’t take you more than NINETY YEARS to come around!
When I woke up a few days ago, the FIRST THING I did was check the spot price of gold and the price shown was $1,944/ounce, a new all-time high after $1,921 was passed.
A good friend of mine, who runs a hedge fund, called me after the markets closed this past Friday. He asked me if I had 20 minutes to “BRAINSTORM ON GOLD” and I told him “Always” and that I was DOING THAT ANYWAY, so it’s a perfect investment of my time.
Poverty is spreading MUCH FASTER than Covid-19 is. Compared to this flu-like virus, poverty scares MANY MORE households and, unfortunately, nobody in government or in the education system is working on a treatment for it.
WealthResearchGroup.com IS ON FIRE!
We’ve embarked upon a WORK OF BEAUTY; the precious metals bull market now includes silver. This is important, since silver’s strength is the REAL INDICATOR that the dollar is weak and entered a BEAR MARKET.
This isn’t Warren Buffett’s best year, in terms of PUBLIC PERCEPTION. He’s been ridiculed for selling the airlines a number of days before their SHARE PRICES bottomed and began TURNING AROUND. Gold, which Buffett often says does nothing and “Just Sits There” is SITTING PRETTY and outperforming Berkshire’s by miles and miles. Meanwhile Berkshire’s CASH PILE is eroding fast in PURCHASING POWER, but one thing to remember about Buffett is that he is the greatest capital allocator to ever live.
Oh, Bernanke, I hope you are READING THESE WORDS: You Lost!