Buy gold and prepare for the collapse of the stock market

Reporter: Barratut Taqiyyah Rafie | Editor: Barratut Taqiyyah Rafie

KONTAN.CO.ID – NEW YORK. In a disclosure of its performance in Q2 2020 last August, Warren Buffett’s Berkshire Hathaway revealed that Oracle from Omaha made some big decisions with its investment portfolio.

Articles quoted from The Motley Fool more spotlight on Buffett’s investment in Canada revealed in the disclosure.

It is known that Warren Buffett bought an additional five million shares of Suncor Energy to increase his position in the Canadian energy sector giant. The disclosure also reveals that Warren Buffett sold all of his shares in Restaurant Brands International. Lastly, Oracle of Omaha made a surprising move by investing heavily in Barrick Gold.

Buffett buys gold

While all three moves have taken investors by surprise, Warren Buffett’s decision to bet on gold is the most confusing for an investor who has followed his investment career closely. For those in the know, Warren Buffett has enjoyed many successes throughout his decades-long career without ever investing in the yellow metal. This is a rare moment to happen.

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The Motley Fool said, Warren Buffett has had a negative impression of gold. Warren Buffett considered, gold has no real value other than the jewelry industry. Until Warren Buffett finally bought Barrick’s stock, he never invested in a gold mining or gold company.

On the other hand, gold is highly regarded as a safe-haven asset all over the world. It seems that the legendary investor is starting to shed his negative impression of gold, because that is the most practical decision to make. Warren Buffett might predict a massive market crash. So, betting on gold is ideal for making the best of the situation.

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So far, Warren Buffett’s investment in gold appears to be paying off for Oracle Omaha. Gold prices have surged due to turbulence in the stock market. The valuation of gold miner stocks reached higher heights, and Barrick Gold outperformed the prices of gold and other gold mining stocks.

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