Diamonds and Dogs


Gold shining brightly. Barrick Gold (GOLD) is up 3% after it was disclosed Warren Buffett and Berkshire Hathaway bought 29 million shares worth $600 million during the second quarter. The commodity is up nearly 30% year to date with all the fiscal stimulus the government is throwing at the coronavirus.

While Warren Buffett adds Barrick Gold, he sold stakes in bank and oil stocks. Wells Fargo (WFC) is down 2.5% while Occidental Petroleum (OXY) is down 5% after Berkshire lowered their exposure. Warren reduced his stake in Wells Fargo by 25% while he sold his entire stake in the Oxy. Not a good signal for the overall economy. 

Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.