Warren Buffet's firm Berkshire Hathaway Inc. took a new 10-million share stake in General Motors Co. in the first quarter. That's worth approximately $214 million as of Tuesday am ($21.42/sh). We all know Buffet's opinion on PM. So let's see what he could have bought with that money instead of paper: 7756433 oz of silver or 138817 oz of gold at the common man's spot price. Now I know he's not buying GM for short term gain. And it will be almost impossible to track when he sells off his holdings so a direct comparison of profits vs. PM is impossible. But it will be interesting to see how GM stock does vs. PM for the next 6 months, 1 year... and so on. I've never understood why he has such a negative opinion of PM.
Hmmm - I actually thought he hated auto stocks as well. I think there must be more to this than meets the eye. Maybe a political push or maybe he knows of a government grant/support coming their way? Ahh - gotta love a good conspiracy theory! malachii
didnt he buy a couple hundred million ounces a few years ago or something and made the price shoot up by a few dollars when he did so? apparently he sold it but david morgan reckons that he used it to make some silver trust or something like that. sorry for being vague
He bought around 500 million $US in silver when it was at $4 an ounce. I bet he is kicking himself for selling it all.
When it comes to pm's these so call experts throw darts at a board... Is there such a thing as a expert? If you've got millions to spend than you keep betting that's all that they do bet. You win some you loose some but the wins can be big, rewind to last year and listen to there voices??? Totally wrong.
He buys General Motors, which is all Chinese factory's now. He's a slime bag commie globalist who should be in prison.
He just buys into companies he knows will get bailed out when SHTF like Bank of America and GM, dirty bastard
Man it feels good to be a bankster! Steal $1000 go to prison, steal $100million get bonus, promotion and an offer to work for the Obama administration :|
Only JP Morgan knows where silver will go. When it does not go exactly where they want they lose billions. When will it be bailout 2.0?
I think it has something to do with this:- http://www.gatewaytosouthamerica-ne...efers-farm-land-to-buying-gold-you-should-to/
His little story is cute, and he tells it like a wise old sage. Unfortunately it's just an oversimplified fairy tale. If this was 10 years ago and his pile A was farmland surrounding Cernobyl and Enron stock instead of Exxon Mobil. And his pile B was gold at $300 an ounce. Which pile do you think he'd take? If you want to simplify investing, strip it down to buy low & sell high. And PM's have been very profitable using that basic strategy for quite some time now. Hope everyone got a chance to stock up on a bit of the shiney stuff this past week. Today's rebound is a nice breath of fresh air.
I hit almost $8 per ounce the next day. I was holding about 900 ounces that I took in trade @ $5. per ounce. I was able to lockin a price to sell at $7.70 that day. Buy the time I did get to the smelter It had fallen to about $7.00 but they still bought them.
He's into China & owns a big share of BYD Electric Motors. They haven't faired so well in recent times. "Buffett-backed Chinese carmaker hit by slowdown and solar woes, profits down 90% in first quarter" http://www.reuters.com/article/2012/04/25/byd-results-idUSL3E8FJ95I20120425
im new into this whole investing thing.. trying to do some reach search to get into it and starting to follow the markets but why does everyone not like warren buffet??
