Featured Stories World News Commentary Money Watch Multimedia Prison Planet U.S. News Science And Technology

Billionaires Dumping Stocks, Economist Knows Why

  • Print The Alex Jones Channel Alex Jones Show podcast Prison Planet TV Infowars.com Twitter Alex Jones' Facebook Infowars store

Newsmax 
January 3, 2014

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.

Full article here

This article was posted: Friday, January 3, 2014 at 11:35 am





Infowars.com Videos:

Comment on this article

Comments are closed.

Watch the News

FEATURED VIDEOS
CREEPY UNCLE JOE See the rest on the Alex Jones YouTube channel.

The Truth About Soy Boys See the rest on the Alex Jones YouTube channel.

https://www.youtube.com/embed/KQ-YjGmpO4Q https://www.youtube.com/embed/FTSvLKY7HEk

© 2017 PrisonPlanet.com is a Free Speech Systems, LLC company. All rights reserved. Digital Millennium Copyright Act Notice.