Jamie Dimon, chairman and CEO of JPMorgan, shilled $150 million this past week, in his first cash-out since taking the reins at the bank nearly two decades ago.
Within days, Apollo Global Management’s Leon Black also enacted his first-ever sale, shedding $172.8million in his equity firm after 34 years. Walmart’s Walton family sold $1.5billion in a week, bringing its total sale proceeds to $2.3billion since December.
The series of transactions were all made within weeks of each other, and have already sparked conversation amongst onlookers.
OBSERVATION - As the article notes, there are several theories being bantered about over the timing and amounts of these transactions. Over all, the guess is that they see ‘uncertainty’ in the economy in the upcoming months due in part to the elections and other potential factors that would stall the economy. Some are saying they are trying to ‘diversify’. What ever the reason, these heavyweights are responding at market highs to something that has appeared
on their common radar
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To diversify? Into other currencies? Any guess what they’re buying?
What does this very interesting tidbit have to do with the posts?