Warren Buffett sours on banks and likes (gulp!) gold

Golden sign: A bet on gold is an act of fear and not something expected from an experienced investor who has ridden out numerous downturns. — Bloomberg

DUMPING bank shares and investing in a gold miner? It certainly doesn’t sound like a Warren Buffett move, but that’s exactly what the investing guru’s company did in the second quarter, according to a regulatory disclosure Friday. It’s not a good sign for markets.

Buffett, the fifth-richest person in the world, has loved few things more in his life than sweets, soda and compound interest – but banking stocks have come pretty close.