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- Warren Buffett helped Thomas Kaplan become a billionaire when he bought 130 million ounces of silver in the late 1990s, just before Kaplan listed his silver-mining company.
- The Berkshire Hathaway CEO has done the natural-resources investor another favor by taking a stake in Barrick Gold last quarter.
- Barrick co-owns the Donlin Creek gold deposit in Alaska with NovaGold, which counts Kaplan as its chairman and largest shareholder.
- "Lightning has now struck twice," Kaplan told Business Insider. "Now I owe him two!"
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Warren Buffett paved the way for Thomas Kaplan to become a billionaire when he unexpectedly bought silver in the late 1990s.
The Berkshire Hathaway CEO has inadvertently helped the natural-resources investor once again with his surprise bet on a gold miner more than 20 years later.
See the rest of the story at Business Insider
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See Also:
- Warren Buffett disciple Joel Greenblatt averaged 50% annual returns over 10 years. He shares an investor's approach to solving some of America's most glaring problems right now — from education and immigration to social security.
- Warren Buffett's bet on Barrick Gold isn't as strange as it looks. The miner models itself on Berkshire Hathaway.
- Warren Buffett bet on a gold miner and slashed his bank stakes because he's picking winners, a veteran Berkshire Hathaway shareholder says
from Business Insider https://ift.tt/32o6pLQ
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