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Billionaires dumping stocks

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posted on Jun, 9 2013 @ 08:04 AM
This may br important:

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.


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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edit on Mon Jun 10 2013 by DontTreadOnMe because: Starting a New Thread?...Look Here takes pride in making every post count. Please do not create minimal posts to start your new thread.If you feel inclined to make the board aware of news, current events, or important information from other sitesplease post one or two paragraphs, a link to the entire story, AND your opinion, twist or take on the news item, as a means to inspire discussion or collaborative research on your subject.

posted on Jun, 9 2013 @ 08:15 AM
If you just google "billionaires dumping stocks", this story goes back to Feb. 2013. Sorry, it's just not breaking news.

posted on Jun, 9 2013 @ 08:16 AM
reply to post by freddieb

Editor’s Note: . Before you dismiss the possibility of a 90% drop in the stock market as unrealistic, consider Wiedemer’s credentials. In 2006, Wiedemer and a team of economists accurately predicted the collapse of the U.S. housing market, equity markets, and consumer spending that almost sank the United States. They published their research in the book America’s Bubble Economy. The book quickly grabbed headlines for its accuracy in predicting what many thought would never happen, and quickly established Wiedemer as a trusted voice. A columnist at Dow Jones said the book was “one of those rare finds that not only predicted the subprime credit meltdown well in advance, it offered Main Street investors a winning strategy that helped avoid the forty percent losses that followed . . .” The chief investment strategist at Standard & Poor’s said that Wiedemer’s track record “demands our attention.” And finally, the former CFO of Goldman Sachs said Wiedemer’s “prescience in (his) first book lends credence to the new warnings. This book deserves our attention.” In the interview for his latest blockbuster Aftershock, Wiedemer says the 90% drop in the stock market is “a worst-case scenario,” and the host quickly challenged this claim.

edit on Mon Jun 10 2013 by DontTreadOnMe because: trimmed quote

posted on Jun, 9 2013 @ 08:51 AM
..i think we're all pretty much just relaxing on deck of titanic these days and we all know it

posted on Jun, 9 2013 @ 09:01 AM
reply to post by freddieb

After all, the stock market is still in the midst of its historic rally. Real estate prices have finally leveled off, and for the first time in five years are actually rising in many locations. And the unemployment rate seems to have stabilized.

I'm no economist, but if i had a guess, i'd say the rally is probably artificial and over inflated, just waiting to burst.

If people are not buying, and continue to limit spending based on employment uncertainty, those corps and companies catering to the consumers markets are going to lose out.

I'd be getting out of banks, electronics, luxury goods and anything else that isn't on a list of essentials people need to buy, even if they are worried about their jobs...staple foods, toilet paper and funerals...we all need them. Banks, speed boats and designer clothing (etc) we don't.

posted on Jun, 9 2013 @ 09:12 PM
More doom for my gloom.....
is nothing positive anymore?
I think ill just shoot myself and get the misery over with....................
OH wait theres a butterfly!

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