Billionairs dump stocks then markets slump


George Soros - World Economic Forum Annual Mee...

George Soros – World Economic Forum Annual Meeting Davos 2000 (Photo credit: World Economic Forum)

Warren Buffett & Bill Gates - Bridge @ Borshei...

Warren Buffett & Bill Gates – Bridge @ Borsheims 2007 (Photo credit: Ethan Bloch)

http://www.moneynews.com/MKTNews/billionaires-dump-economist-stock/2012/08/29/id/450265?PROMO_CODE=1393F-1

ARE YOU PREPARED FOR A 90% MARKET CORRECTION?

Despite the 6.5% stock market rally over the last three months, a handful of billionaires are quietly dumping their American stocks . . . and fast.
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.
Fellow billionaire John Paulson, who made a fortune betting on the subprime mortgage meltdown, is clearing out of U.S. stocks too. During the second quarter of the year, Paulson’s hedge fund, Paulson & Co., dumped 14 million shares of JPMorgan Chase. The fund also dumped its entire position in discount retailer Family Dollar and consumer-goods maker Sara Lee.
Finally, billionaire George Soros recently sold nearly all of his bank stocks, including shares of JPMorgan Chase, Citigroup, and Goldman Sachs. Between the three banks, Soros sold more than a million shares.
It’s very likely that these professional investors are aware of specific research that points toward a massive market correction, as much as 90%.

http://finance.ninemsn.com.au/newsmarket/aap/8677984/oil-prices-dive-on-fed-stimulus-signal

http://finance.ninemsn.com.au/newsmarket/aap/8678019/base-metals-fall-sharply-on-the-lme

http://finance.ninemsn.com.au/newsmarket/aap/8678022/precious-metals-plumet

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2 Responses to Billionairs dump stocks then markets slump

  1. Pingback: Billionaires Dumping Stocks, Economist Knows Why: Don’t Get Snookered Into Stocks While Banks Drive Metal Charts Down With Fraudulent Paper. | Political Vel Craft

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