Billionaires Dumping Stocks, Economist Knows Why

Billionaires Dumping Stocks, Economist Knows Why

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.

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laurie steele says:

their dumping all the consumer goods, especially ones like foods, due to the fact that all goods from america, especially west coast will be considered radioactive and no one will want them. just like all the goods from japan, car parts, computer parts, electronics…. foods. another reason for the media blackout, so the elite can sell off their investments before SHIF.

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