So far it’s down, but not too bad, NASDAQ is even up a little.
Only down 200 points at this time.
I bought in big at the bottom, around March 20th. Up as much as 60% (yep), but down the last 3 days.
Buffet is trying to move the markets, nothing more. He dumped his airline stocks after buying at precisely the wrong time. Lost $50 billion in value (yes, $50B).
I believe (and put my money behind it) that our economy will come back, stronger than ever.
My holdings: Cruise lines, Airlines, Hotels, Restaurants, Casinos.
Your mileage may vary!
But... the Oracle of Omaha? He didn’t see this coming? It was so obvious a caveman could see it..
I’d have to see a portfolio breakdown. Probably overweighted in industries that are severely impacted.
Should have bought more medial diagnostics, health product companies, paper products, Amazon and Walmart.
B H bailing on airlines. Not good news.
‘Big 4’ airline stocks plummet after Warren Buffett revealed that Berkshire Hathaway dumped them in April
...
McDonald’s did really well after the corrupt Democrat sold his stake.
Our portfolios are up, mostly NASDEQ. Buffet’s stock is down because he wants it down.
I chucked in a few bucks the day it bottomed out about a month ago. I will either look smart or stupid.
Down trend has to be massaged by the “woo woo” a@@ clowns of the following herds of morons. Otherwise Berkshire Hathaway’s shorts will NOT produce income. Will not short sufficiently.
Hence the news media and “it’s all going to hell”. Too bad it’s not like it was when insider trading was the norm— not like the “dressed up” version of the “genius from Topeka”— .
The same joker who was against the pipeline because Burlington Northern tank cars were carrying the out put— at great revenue levels and completely inefficient.The “William Randolph Hearst” of the marketplace. Him and Gates-— controlling the gauge of the railway of the internet. How much intellect does it take to buy and never sell (but create shorts for your own investments, to buy them up).
Now waiting for the drones of wall street and “gonna get rich” day traders to scream. No reply- no worries.
I wish John Templeton were around to provide some of his guidance.
https://www.youtube.com/watch?v=XFn1G2goDQw
https://www.youtube.com/watch?v=Lm_4j-_Dnwc
https://www.youtube.com/watch?v=o_fxEoF8Vl8&t=224s
Perhaps a weakness inside the Berkshire series of companies has been exposed. It was considered a well diversified business but, perhaps, too much of it relies on a functioning economy. LOL.
I say that facetiously but what I mean is, he owns railroads but rail freight is way down. He owns candy and food companies (See’s and Dairy Queen) but they are partially closed. He owns insurance companies, they may be losing premium income or facing payouts. He owns tool & die companies but those only work when factories are open to buy tools and dies. He owns netjets, maybe safer than flying commercial but I can’t imagine he’s selling a lot of private flights. He owns Fruit of the Loom, perhaps we can all use some new underwear about now but no place to buy them. I think he has interests in real estate, and frankly that’s going to take a beating at some point as many renters can’t pay their bills (commercial, retail, industrial, residential). Personally I’m thinking of trying to renegotiate my business lease by telling the landlord if he can find another tenant I’ll move to Reno.
He took $50 billion loss/right-down this last quarter. That’s a huge bite. They do have a huge hoard of cash though... like $150 billion in cash. He might make an acquisition at some point. Assuming that cash is not sitting in state and municipal bonds which are surely going to have some pain.
Maybe ten years from now, we’ll have “Amazon Airlines”.
so far, no blood bath today: you’re still batting zero with your chicken little sky-is-falling posts:
https://www.google.com/search?q=djia
Down 147 at 2:30 pm. Eastern.
I think he actually believes that his selloff of the Berkshire portfolio of airline stocks was going to topple the market.
The market will survive it ALL... it's Buffett who will "crash" and be gone.
I wish him no ill-will. I just think his "self-importance" is showing itself at the moment.
Let us NOT forget, Mr. Buffett, what Emerson, Lake, & Palmer taught us... "Welcome My Friends to the Show that Never Ends."
A reminder to Mr. Buffett that he is just another "minor character" currently passing through life.
The SHOW will continue.. it is HIM, along with all of us, that is temporary.
httt.
{{{{Womp Womp}}}}
Dow up on the day, futures up more than 200 points.