Business
warren-buffett-dumps-banks-buys-gold – Motley Fool Australia
Warren Buffett has dumped his entire position in Goldman Sachs shares in exchange for Barrick Gold shares. Should be buying ASX gold shares?
The finance news has been filled with stories about Warren Buffett’s latest gold play. It might be happening in another country, but when an investor as famous as Buffett changes his portfolio, the world takes notice.
What changes took place?
In a surprise move, Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B), Buffett’s multinational holding and investment company, dumped its entire position in Goldman Sachs shares in exchange for around US$565 million of Barrick Gold Corp (NYSE: GOLD) shares.
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