Buffet blesses the sector. Buffet always says he only invests in things that he can understand........ Money printing BAD, sound money GOOD!
We'll see how long it lasts. There is an obvious reason for Buffet to reduce his bank positions. They've been a foundation of his holdings because Banks represent a picture of how the real economy is doing.
I think even eternal American economic miracle optimist Buffet knows that we are going to go thru a rough patch when all the stuff hits the fan. The FED and Congress have suspended all the stuff but it's still there. Delinquent credit cards, delinquent mortgages, bankruptcies........They are all waiting in the wings. And the banks are standing right in front of the fan waiting to get hit.
When was the last time gold miners really did well?
The Big One. The great Depression.
Maybe the Oracle sees a BIG Pothole in the road?
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