Buffett buying gold miner?

On April 28, 2012 at 8:08 am, Irwin says:

Happy Saturday to all :) Seg #2: The audio is muffled, but did I hear Peter G compare miners to buggy whip manufacturers? He’s starting to give old farts with dyed moustaches a bad image. (joke) Yesterday I heard someone say that many mining companies are at or close to trading below their intrinsic value. And you know who likes to buy companies below intrinsic value? Allow me to start this rumour: Warren Buffett may be looking to buy gold in the ground.

On April 28, 2012 at 8:53 am, Mark Alan says:

Warren Buffet WILL NEVER BUY a gold mining company. They don’t receive subsidies from the government. Pay attention to Warren’s investments and you will see that he only invests in quality companies that generate cash flow, and companies that are going to be subsidized by the government and supported by legislation. Gold companies may produce cash flow, but they are not something that every day people are going to want or need.

He bought that railroad company not because of value, but because the company is going to have future contracts with the U.S. government in transporting military goods. It is also a stealth play on the commodity sector itself. Have a mine? Need your ore shipped? No problem! I know just the railroad to use! Oh don’t like the cost, ask for some financial assistance from the government and I will sign a five year contract with your company and we can ship all the ore you want. Can’t lose!

Funny thing, his father Howard was a man of decent morals and believed in a gold standard. Too bad his son is a sociopath who doesn’t care one bit about blowing up villages and the killing of innocents so that an oil company can get its pipeline laid. And his promo about “need to tax the rich more” is total bull!

On April 28, 2012 at 9:31 am, Marc says:

Mark A, Do you think Buffett will get it when the “paper” ponzi scheme we call the US Dollar collapses? Your damn right he will buy gold and silver mining shares! But, with what?! :) LOL! All the best, Marc

On April 28, 2012 at 9:39 am, Mark Alan says:

First of all, Buffett is getting old, what does it matter to him if the U.S. Dollar declines in value. He already has plays on inflation. He won’t buy mining companies because they are too risky for him. He already bought 130 million ounces of silver once.

I don’t think the dollar will collapse. I do think we will have serious problems of civil unrest and infrastructure break downs, like electric power grids. We will definitely see riots in the streets this year and they will be violent.

Buffett will not buy gold or silver stocks unless he can get a promise in writing on a guaranteed amount of income.

On April 28, 2012 at 9:59 am, Jerry O^OTB says:

Mark, it thing you are correct on Buffett,

On April 28, 2012 at 10:00 am, Jerry O^OTB says:

my typing and one eye are getting to me….should read, Mark, I think you are correct on Buffett

On April 28, 2012 at 10:18 am, Mark Alan says:

Hey Jerry
It only makes sense because IF Buffet DID BUY gold mining companies….IMAGINE WHAT MESSAGE THAT WOULD SEND TO THE CONVENTIONAL MARKETS AND THE GENERAL PUBLIC. It would be massive and the establishment don’t want that message broadcast.

On April 28, 2012 at 2:46 pm, Marc says:

Mark A., Of course, you are right. Buffett would NEVER do that. Just funnin around..stay frosty! Marc

On April 28, 2012 at 4:06 pm, Jerry O^OTB says:

Just remember , Buffit..did cash in his silver stash, and they started the SLV.., paper mkt. I think it was 190,000 tons? at $9.50 oz.., someone correct here, I am going by my 63 year old brain…and after all it was back in 05 ?

http://www.kereport.com/2012/04/28/6811/
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