In partnership with Golden Portfolio | Warren Buffett is sitting on $325 billion in cash – his largest hoard ever. | Not because he wants to – but because he can't find value in the usual places. | Now, as US government spending spirals out of control, Buffett knows he's losing billions of dollars to inflation. | That's why I predict Buffett's next investment will catch millions of people off guard. | It's not another bank… railroad company… or more shares of Apple. | It's a gold company. How do I know? | Because the math doesn't lie: | You can buy the average gold developer for $30 and get back $13 a year
— | That's a 43% ROI annually. | Over 10 years, that's $130 on a $30 investment. | Tell me where else Buffett can get that. | But there's one specific miner Buffett likes best: | It's the best-managed major gold miner in the industry… Has massive cash flow… Is trading at a deep discount to fair value… Positioned at the heart of Trump's new mining push…
| Don't wait for Buffett to reveal his position in his 13F filing on May 15th… | Right now, you have the chance to front-run the greatest investor of all time. Go here and I'll give you the name and ticker – along with details on my top four small miners. | To your wealth, | Garrett Goggin, CFA, CMT | Chief Analyst & Founder, Golden Portfolio | P.S. A lot of investors write in to tell me how much they've made in Bitcoin. My reply? Good for you. First off, gold investing is cyclical. You really only want to own gold at one specific time in the cycle. That time is now. Second, the world's governments are not buying Bitcoin. They're betting on gold. All of them. Bitcoin (does anyone really know for sure the US government didn't create it?) will be a good bet… until it isn't. It may end up doing great. Or it may be eclipsed by any number of tech developments. | Meanwhile, gold will continue to do what it's done for almost 6,000 years of recorded human history: Protect wealth through chaos.
Go here if you want the name and ticker of Buffett's likely gold play… and details on my top four miners | |
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| | Energy Supply Disruptions | The retail market spent the last two years obsessing over artificial intelligence. This month, investors received a violent reminder of how the physical economy actually operates. | Oil surged as Middle East tensions escalated. Shipping traffic through the Strait of Hormuz—a corridor handling 20% of global oil and liquefied natural gas—is under severe threat. When physical energy routes choke, freight costs rise. When freight rises, broad inflation follows. | Equities reacted. But another asset class absorbed the real capital rotation. Spot gold just breached $5,185.6 an ounce. | This is not a retail trading anomaly. It is a structural shift driven by institutional panic. | Central Bank Demand | Look past the retail volume and watch the central banks. | Over the past decade, sovereign governments have quietly accumulated massive physical gold reserves. Collectively, central banks now hold over 33,000 metric tons. That is roughly one-fifth of all gold ever mined. | They are doing this for a specific reason. Global governments are managing catastrophic debt loads. They are running massive deficits. Sovereign entities know that fiat currencies will be diluted to manage this debt. | To protect their balance sheets, they are rotating out of foreign debt and into hard, stateless assets. Gold does not carry counterparty risk. It cannot be printed. It is a sovereign defense mechanism. | | | | Equity Valuation Risk | This macro environment explains the anomaly in Omaha. | Warren Buffett is sitting on more than $325 billion in cash at Berkshire Hathaway. Buffett rarely holds cash in that quantity unless equity valuations are completely detached from underlying reality. | He is waiting for a repricing. But holding a third of a trillion dollars in fiat carries immense risk. Even modest inflation destroys the purchasing power of that capital. | If traditional mega-cap equities are overvalued, and cash is depreciating, long-term institutional capital is forced to find a new vehicle. | Producer Margin Expansion | Gold protects capital. But the companies that extract the metal generate extreme leverage. | Mining operations run on relatively fixed production costs. When the spot price of gold rises past $5,185, it does not cost the miner significantly more to extract the asset. Their margins simply expand. | This creates violent upside during commodity cycles. | Mining requires strict capital discipline and elite operational management. But when gold enters a sustained structural bull market, well-managed producers attract massive institutional inflows. | Commodity cycles do not begin with loud headlines. They begin quietly, while the retail crowd is distracted by technology valuations. | When global markets become unstable, institutional capital stops looking for software disruption. It looks for the assets that survive the inflation. |
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| | How did you find today's briefing? | |
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| | Written by Deniss Slinkins
Global Financial Journal |
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