Joke post?
In fact BRK.A closed down -$4200 per share. Guess people who can afford that know something all of the little guys don’t know.
At $258,700 per share, I’m sure most of the owners can withstand a single day $4200 drop (only 1.60%)
Their biggest exposure is Insurance.
Geico.
Gov Employee Ins Co.
Down 1.6% is not a big move.
It’s probably Trump’s fault. I’m not sure how, but everything bad is Trump’s fault. That’s what the media has been telling me, anyway.
Buffett wants to tank the market, maybe?
The most unfailingly mindblowing aspect is that while it may appear that a news event, in this case, the "bloom off the rose of the MRNA potential-vaccine" is "the cause" of the violent reaction... it isn't. The market was glaringly ready for a selloff BEFORE any of this CV-10 news came out and had started to weaken in its subtle way. THEN we got the CV news and the already-in-progress selloff took off like a hand grenade.
After all: The market got +90 points from the first GILD vaccine announcement....which turned out to false. It got about +50 points from the SECOND GILD announcement...which turned out to be false. And yesterday got +90 points out the MRNA announcement. How much has the market given back post GILD #1 and #2? Nothing. How much after MRNA? -30/90 points.
I do know the feds are doing what they can to pump up the stock market. Maybe a bit of cashing in for repositioning purposes.
Buffett has lost his touch. He is selling when he should be buying, and dumping stocks at the bottom. He used to know how to trade against the market, and make lots of money doing so.
He’s invested heavily in trains that transport things like coal and oil? And other goods that are not flowing freely through our country at the moment.
Value stocks got hammered today and have not been doing well in general. I own some for the dividend, around 3.5% on average.
Airline investment and political bias clouding the once clear oracle of Omah.
Warren Buffet?
https://www.fool.com/investing/2020/05/19/warren-buffett-just-dumped-goldman-sachs-heres-why.aspx
Shulan city and Jilin Province in China just got shut down over 3 dozen Covids cases(probably a lot more) and that province has 100 million people in it. It sits to the North East of Beijing on North Korea’s northern border.
It may be spooking some in the markets.
People may be using the CARES act and pulling moneys early from their 401k’s.
When the oracle, Warren Buffet dies, the price will drop precipitously. He is old and vulnerable to Covid19, which may play a part in the price drop.
The price was ridiculous. I looked at it a year ago and couldn’t afford one share. But, Warren knows all the investors personally and that’s the way he keeps the club small. It also probably plays a role in reducing the stock’s beta. (Volatility measure.)
Really? You are using Berkshire as your assessment of the market?
Buffet is as senile as Joe Biden.
I would consider finding another basket of companies to follow.
Market is being led by Technology and Healthcare sectors. What traditionally leads equities out of a recession are Financials and Consumer Cyclicals. Those sectors have been flat to down over the past 5 weeks. Keep in mind that the 5 FAANG stocks make up something like 20% of the S&P 500 market cap. They can drive the index higher while everyone else is flat. It may be different this time, but I would like to see a little more breadth to this equity market recovery.
Buffett took a beating in the downturn, then locked in some of his losses. He missed out on some of the comeback. Bet on Heinz, Goldman and Wells Fargo. Wells Fargo killed him.
Because bottom fishing (what berkshire does) does not work in this economy.
For example, if BH were to buy JCPenny, does ANYBODY believe he could turn it around?
That game is over, BH days are all downhill.