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iPath S&P 500 VIX ST Futures ETN Message Board

  • trycure2 trycure2 Feb 12, 2013 10:50 PM Flag

    Pssst, I'll tell you a little secret

    While the CEO of Goldm@n S@chs announced today that we are on the threshold of a bull market and
    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.

    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.

    Fellow billionaire John Paulson, who made a fortune betting on the subprime mortgage meltdown, is
    clearing out of U.S. stocks too. During the second quarter of the year, Paulson’s hedge fund,
    Paulson & Co., dumped 14 million shares of JPMorgan Chase. The fund also dumped its entire position
    in discount retailer Family Dollar and consumer-goods maker Sara Lee
    ….
    No investors, let alone billionaires, will want to own stocks with falling profit margins and shrinking
    dividends. So if that’s why Buffett, Paulson, and Soros are dumping stocks, they have decided to
    cash out early and leave Main Street investors holding the bag.…
    ,

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