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Despite the 6.5% stock market rally over the last three months, a handful of billionaires are quietly dumping their American stocks . . . and fast.
Warren Buffett, who has been a cheerleader for U.S. stocks for quite some time, is dumping shares at an alarming rate. He recently complained of “disappointing performance” in dyed-in-the-wool American companies like Johnson & Johnson, Procter & Gamble, and Kraft Foods.
In the latest filing for Buffett’s holding company Berkshire Hathaway, Buffett has been drastically reducing his exposure to stocks that depend on consumer purchasing habits. Berkshire sold roughly 19 million shares of Johnson & Johnson, and reduced his overall stake in “consumer product stocks” by 21%. Berkshire Hathaway also sold its entire stake in California-based computer parts supplier Intel.
Intel has increasingly been on the receiving end of several bad trends ...including the fading dominance of Wintel computing, escalating rumors of an Apple-Intel divorce, and the increasing ubiquity of RISC-based chip architecture used in smartphones, tablets, printers, servers and even super computers now (and a chip architecture which Intel has resisted for too long in favor of its older CISC based chips). No doubt Intel will adapt and do fine, but further growth probably not so much.
Despite the 6.5% stock market rally over the last three months, a handful of billionaires are quietly dumping their American stocks . . . and fast.
Warren Buffett, who has been a cheerleader for U.S. stocks for quite some time, is dumping shares at an alarming rate. He recently complained of “disappointing performance” in dyed-in-the-wool American companies like Johnson & Johnson, Procter & Gamble, and Kraft Foods.
In the latest filing for Buffett’s holding company Berkshire Hathaway, Buffett has been drastically reducing his exposure to stocks that depend on consumer purchasing habits. Berkshire sold roughly 19 million shares of Johnson & Johnson, and reduced his overall stake in “consumer product stocks” by 21%. Berkshire Hathaway also sold its entire stake in California-based computer parts supplier Intel.
He was just on CNBC pumping up consumer products. Is Buffett just a pump and dump scammer?
I'll go to my grave puzzled as to why the Dow Jones had any business being over 7500 for the past 5 years!
I read Alan Greenspan's memoirs, and he deems the market fickle! He was puzzled over the rise of the market during the late 90's and more puzzled over the 1987 crash, and wasn't he one of the top-notch economists of the times?
I'll go to my grave puzzled as to why the Dow Jones had any business being over 7500 for the past 5 years!
I read Alan Greenspan's memoirs, and he deems the market fickle! He was puzzled over the rise of the market during the late 90's and more puzzled over the 1987 crash, and wasn't he one of the top-notch economists of the times?
This may help solve your puzzlement - what has taken place over the past five years.
The DOW does not reflect the US economy, unlike years past. The DOW is over-inflated by net revenue profits accummulated outside the US, which profits remain outside the US. I live outside the US and I see how many "named" food brands are manufactured in this country. The profits do not shift back to the US, but remain in the country, but they have to be accounted for in the companies financials. The DOW is a bubble that is full of hot air and will continue to expand until it bursts.
He is the largest holder of gold, in the USA.
Wonder why?
Got any evidence of that? It is well known that Warren Buffet is a big believer in the stock market, not gold. He said so once again just the other night in an interview with Charlie Rose.
Got any evidence of that? It is well known that Warren Buffet is a big believer in the stock market, not gold. He said so once again just the other night in an interview with Charlie Rose.
You're mistaking what people say with what they do.
Big, foolish mistake.
You don't seriously think he's gonna reveal his strategies to you, now, do you?
They're getting their cash reserves ready for when the economy collapses. The US will sell off federal land at fire sale prices. They'll own vast reserves of land and open them up to mining and exploitation. I'm sure Yellowstone and Yosemite has lots of oil and gas and canuse some new hotels.
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