Taking Stock 

Buffett ditches banks in favour of gold

Mark Robinson

Buffett ditches banks in favour of gold

Earlier this year, Warren Buffett took a well-publicised hit after Berkshire Hathaway (NYSE: BRK.A) offloaded its stakes in the "big four" US airlines at a substantial loss. No one could have predicted the disruption brought about by Covid-19, or at least our reaction to it, but what was remarkable was that the Sage of Omaha had taken large positions in the airlines despite having repeatedly denigrated the sector from an investment angle.

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