As reported on Bloomberg TV: ‘Barrick Gold Corp was back in favor with fund managers last quarter, before the world’s biggest bullion producer reported disappointing earnings and rising costs… Billionaire investor Stan Druckenmiller’s Duquense Family Office LLC bought 2.85 million shares in Barrick’ in the 1st quarter.
Apparently Templeton and Druckenmiller have not done their home work on mining stocks. Anyone with any knowledge and experience investing in mining stocks knows that companies like Barrick and Goldcorp and are poorly managed, highly bureaucratic organizations. As such, they are terrible vehicles with which to express a leveraged view on the precious metals market.
This post was published at Investment Research Dynamics on May 16, 2017.
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