CausingPAIN
Rookie
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I love this inside trader show game, the ones that own everything and control everything get first shot at profiting. Only in America Gotta love it, more deregulation. So the game can be more catastrophic.
Billionaires Dumping Stocks, Economist Knows Why
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 Buffetts 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, Buffetts apparent lack of faith in these companies future prospects is worrisome.
Unfortunately Buffett isnt alone."
Billionaires Dumping Stocks, Economist Knows Why
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 Buffetts 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, Buffetts apparent lack of faith in these companies future prospects is worrisome.
Unfortunately Buffett isnt alone."