Billionaires are quietly dumping their stocks | |
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PedroDeSapper User ID: 3576547 United Kingdom 10/15/2013 12:57 PM Report Abusive Post Report Copyright Violation | Despite the 6.5% stock market rally over the last three months, a handful of billionaires are quietly dumping their American stocks . . . and fast. Quoting: Anonymous Coward 48365961 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. With 70% of the U.S. economy dependent on consumer spending, Buffett’s apparent lack of faith in these companies’ future prospects is worrisome. Unfortunately Buffett isn’t alone. _____________________________________________________ READ MORE AT THE FOLLOWING LINK: [link to www.moneynews.com] The writing is on the wall people! If he's liquidating stock, i'd love to know what he's doing with the money ! Follow the cash |
Spam Killer User ID: 48111693 United States 10/15/2013 12:57 PM Report Abusive Post Report Copyright Violation | Y'all are aware this is OLDER THAN SHIT RIGHT? August 2012- [link to investa.com] Was even posted here back then. |
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