Posted on 01/03/2014 9:18:37 AM PST by gorush
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.
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(Excerpt) Read more at moneynews.com ...
I’m really thinking of taking my IRA to a cash position within a week or two...
In what currency?
I am thinking of cashing in my country for two Blonds.
Feel free to join me there, already doing what you propose. My feeling, and I guess that of Mr. Moneybag liberal, is with all the additional money coming out of the economy to fund health care taxes, fees and the like plus higher premiums, there will be little left for descretionary spending by the average person. Furthermore, when interest rates start to go higher, which has begun, due to competion for cash to fund the government incessant need to sell bonds plus reduced Fed purshasing, the cash is coming out of an earnings challeged stock market. These are the things they don’t tell you on CNBC as one tout after another comes forth to peddle their wares.
Bitcoin???
I don’t think Vanguard will do a bitcoin exchange... :)
Yeah, it’d be nice to go to metal, but I don’t think I can do that handily.
Though... I think Swiss America has an IRA gold option, and a friend of mine has some of his retirement in such an account.
The account manager at SA told him that any hint of government confiscation would result in the instant shipment of the metals to the account beneficiary before they could get their hands on it.
We’ve been doing the same, penalty be damned. Convert it into something useful while it is still worth something...like water purifiers or sodium iodide. :{)
Golden Retrievers? Those are sweet dogs.
Just go to your buddy Obama and arrange for more favors. You know, like Obama deciding not to build the Keystone pipeline. That decision really helped your railroad stocks. Schmoozing Obama worked once. It'll work again.
... and so it begins...
Don't stop thinkin' about tomorrow, don't stop printing the trillions here...
We are sooo screwed.
5.56mm
Mr. Buffett senses that Buddy-Obama’s ability to grant favors is rapidly coming to an end.
No it isn't. Buffett is an insider trader only slightly less repulsive than George Soros in that he isn't quite as openly anti-American and anti-Capitalist.
If he's broadcasting dumping stocks, I'd take it with a grain of salt.
Yeah, the economy is in for a lot more hurt due to the effects of ObaMaoCare, among other things, but there are counter-cyclical stocks and ETF's to mitigate your risk. Don't forget that insiders like Soros and Buffett made BILLIONS from the last crash which they helped engineer.
Not just sweeter, but often smarter than the human equivalent.
Unless you seriously need to, don’t do a distribution.
You can go to one of these reputable IRA gold accounts as the “extreme”,
or you can just go to your money market option if you have one.
I just moved to 30% cash. Will move the remainder on up days this coming week and possibly even sooner. Even my limited technical show a correction coming just after mid Jan.
Been tryin' to tell ya.
I’m thinking of taking everything to cash except the “house money” over the last 5 years.
That is, I’ll leave in only the gains achieved, and keep the principal in cash.
I still say the big crash is over a year off, Sept, 2015.
Whatta laff.
The big money is moving because they know the game is up again.
It’s nothing more then a con game called “the masses lose their asses”.
Pump and run. That’s all they did. There are no “fundamentals” that supported any run up, other then massive money printing and debt creation.
The rubes were lured back in, they bought high, and now they’re gonna get stuck holding the bag again.
While Warren the Slime leaves town with his bucket of cash.
Singing, “Seeya, Suckers”
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