Posted on 09/19/2024 7:34:09 AM PDT by lasereye
While Vice President Kamala Harris surges ahead in polls against her Republican rival Donald Trump, she hasn’t found much traction in the business and investing world. Hedge fund manager John Paulson, the founder of New York-based investment firm Paulson & Co. said on Tuesday in a media appearance that he would pull his money off the market in the eventuality of a Harris win, while Tesla CEO Elon Musk flagged something even more ominous.
The market timing and investor timing will depend on who the president is, said Paulson in an interview with Fox News.
“If Harris was elected [I] would pull my money from the market. I’d go into cash, and I’d go into gold because I think the uncertainty regarding the plans they outlined would create a lot of uncertainty in the markets and likely lower markets,” he told Fox News.
Paulson is known for his profitable bet against the subprime mortgage in 2007.
The vice president has proposed a 25% tax on unrealized gains for people having a net worth of $100 million or more, Paulson said. If implemented it would cause “mass selling of almost everything – stocks, bonds, homes, art – I think it would result in a crash in the markets and an immediate, pretty quick recession,” he added.
When Mario Nawfal shared Paulson’s interview, Musk said, “[Warren] Buffett is already preparing for this outcome.”
Musk apparently referred to Berkshire Hathaway, the firm led by Buffett, divesting large positions in some of its key holdings.
Berkshire sold 115 million Apple shares in the first quarter and followed up the sales of another 390 million shares in the second quarter. At Berkshire’s annual meeting, the investment guru said the decision was in line with his intention to hold more cash during times of uncertainty.
(Excerpt) Read more at finance.yahoo.com ...
I respectfully disagree. Assuming Buffett's trains are still the main means of Canadian oil transport (blocking the keystone pipeline = money keeps going to Buffet).
Buffet throwing money down the sewer?
Better news cannot be found today.
Being rich does not equal being smart. Making money can be easier, but spending that money can be as dumb as funding Iran for terrorism. So, Buffet/Biden/Kamala, all terrorists by extension.
There are a lot of Democrat donor billionaires these days, even as the party pretends it hates billionaires. If Harris wins most of my investments should be fine though some will be in question. Buffet is a keeper in any case.
He’s big on abortion. Any amount of money and human suffering is worth it to continue the sacrifices to Molech.
Banking failure, probably between Nov and Mar. All this commercial property that banks are holding onto and unable to ‘dump’...count in car repossessions, home repossessions, and credit card problems. At least a hundred banks to beg FDIC for ‘help’.
Buffett is simply lining up to consume banks....after the gov’t covers the ‘cost’.
Buffet is brilliant and will make money no matter who is in office.
Morning dose of gaslighting.
No, almost all banks will be saved by lower interest rates. The ones that go broke won’t matter, it’s happened before and it goes with territory.
I stopped reading at “surges ahead.”
I fully expect CWII to kick off if they steal it again.
Buffet throwing money down the sewer?
~~~
If you were filthy rich all your life (not just rich, but levels far far far above F/U money), and you were approaching your the back end of your time here, you would clearly recognize that POWER has much more allure to you than the number of digits that are at the bottom of your ledgers.
How much do those shipments actually add to Berkshire Hathaway's bottom line? Their biggest business remains insurance, not the railroad. And those oil shipments would be just a small percentage of the railroad's revenues.
And they have lots of other investments in a wide range of things, including some large manufacturing firms. So that is not a good explanation for why he'd vote Democrat.
Making that his number one priority would mean he's basically a nut. Which he might be.
p
Or he wants to honor his wife’s memory. His daughter is rabid as well
He could short the market, but I don't believe he has ever done that. It doesn't seem to be his style. I could see Buffett shrewdly shifting his investments into businesses that Harris would be funneling money to, i.e. crony capitalism.
How many Kamala staffers does it take to screw in a light bulb? None, they use gaslights.
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