How wrong was Warren Buffett regarding gold investment?... the...

How wrong was Warren Buffett regarding gold investment?...
the biggest talking head is now "scratching his head" since his huge investment in gold company... and his "shocking" U-turn will attract an army of "Buffett's followers" into gold developers ... on top of awaken average investors, as the banks and hedge funds are already loading up...

So it is important to present our potential and hopefully close "The Deal" with a/m backer or any other... as the gold is for now the only game in investment world - comment by Michael MacCrae :

"Long-time precious metal bugaboo, Warren Buffett, loaded up on Barrick Gold (NYSE:GOLD), according to a Berkshire Hathway 13F released today.

Buffett bought just under 21 million shares. Current stake is worth $563 million.

Buffett can move stocks. Barrick traded down 0.59% to $26.99 today. However Barrick shot up after hours when the news broke and hit $29...

Buffett shed airline stocks, such as United Airlines and American Airlines. He also reduced holdings in financial institutions such as JPMorgan and Wells Fargo.

Through the years Buffett hung gold with some of its most memorable and negative epithets. In 1998 he shared his thoughts on gold during a Harvard speech.

“(Gold) gets dug out of the ground in Africa, or someplace. Then 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.”