The news that Warren Buffett bought a gold mining stock, and the news that David Einhorn's Greenlight Capital (GLRE) bought GDX, are signals that the mainstream are starting to adopt and recognize the new bull market in gold and precious metals. These guys don’t buy expensive things and they aren’t flippers.
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He bought a company that mines gold and precious metals not gold. I think the move back towards cyclicals is not bad at this point in time. Maybe it is a bit early but they have been abnormally punished.
He bought a company that mines gold and precious metals not gold. I think the move back towards cyclicals is not bad at this point in time. Maybe it is a bit early but they have been abnormally punished.
I think you have a typo there. What do you mean a company that mines gold but not gold??
I mean he's buying a gold miner not gold itself (as in amassing gold).