• 'You did me a great favor': Billionaire investor Thomas Kaplan personally thanked Warren Buffett for buying 3,500 tons of silver

    1 day ago - By Business Insider

    Thomas Kaplan thanked Warren Buffett in person for buying nearly 3,500 tons of silver, he told Business Insider.
    "You did me a great favor," the billionaire recalled telling the famed investor, as the 1997 purchase relegitimized silver as an investment and enabled his silver company to go public.
    "Glad to hear it," Buffett replied.
    Kaplan said Buffett's silver bet was "one of a string of just ridiculous strokes of luck," including an introduction to George Soros and billion-dollar discoveries by his silver and energy businesses.
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  • Warren Buffett bought 3,500 tons of silver in 1997. The purchase helped make Thomas Kaplan a billionaire

    Warren Buffett bought 3,500 tons of silver in 1997. The purchase helped make Thomas Kaplan a billionaire

    1 day ago - By Business Insider

    Warren Buffett's purchase of almost 3,500 tons of silver in 1997 helped turn Thomas Kaplan into a billionaire.
    After the silver bubble burst in early 1980, the precious metal plunged in price from $50 an ounce to below $10, and it was widely dismissed as a bad investment.
    "What really put and end to it was when Warren Buffett bought ounces of silver," Kaplan, the chairman of NovaGold Resources, told shareholders this month.
    "It became public that he had done this the week when I was taking my silver company public," Kaplan said. "That changed everything."
    Kaplan told Business Insider he...
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