If its behind a paywallBloomberg :
Buffett, Berkshire’s chairman and chief executive officer, has previously chided investors who chose to bet on gold over stocks because of fears of runaway federal budget deficits.Read more: Buffett’s Berkshire sells common stock in Occidental Petroleum
“The magical metal was no match for the American mettle,” Buffett said in his annual letter to shareholders released in 2019.
Kass called the Barrick investment “the biggest shock” from Friday’s filing, and suggested that the size means it could be a stake made by Combs or Weschler.
“Still, you would think they would share Warren Buffett’s skeptical philosophy of investing in gold, which he’s expressed at several annual meetings as well as his letters to shareholders,” Kass said. “Yet this suddenly shows up in his portfolio, almost as a hedge against possible bad times.”
Warren Buffet invest USD 500 in Barrick, page-2
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