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skuthorp
06-18-2013, 07:16 AM
"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.

Read Latest Breaking News from Newsmax.com http://www.moneynews.com/MKTNews/billionaires-dump-economist-stock/2012/08/29/id/450265?PROMO_CODE=1393F-1#ixzz2WZLhnSVa

Mrleft8
06-18-2013, 08:06 AM
The precious metals scammers are advertizing like doomsday is next Friday.... But if you can't find Velveeta on the store shelves, what good will all that gold do you?..... Like the Fabulous Furry Freak Brothers were fond of saying; "Dope will get you through times of no money better than money will get you through times of no dope".

John Smith
06-18-2013, 08:13 AM
I can't help but remember how the experts told us things were all in great shape, the fundamentals of the economy were good, AIG can't fail, etc. just a few days before the S**t hit the fan.

My daughter's new job gave her a folder of retirement planning options. A lot of 401k's went under when that s**t hit the fan.

It's not my field of expertise, but I'm inclined to think putting a little money every pay into something more secure may be a good idea.

Concordia 33
06-18-2013, 09:09 AM
You can't beat Newsmax for comedy. I especially liked this pithy quote:



So, we're headed toward an entire economic collapse that will make the Great Depression seem like a minor blip? :):)

Buy gold! I'm sure Newsmax has some advertisers eager to sell you gold, at some outrageous markup.

+1. And if you predict the end of the world enough some day you might even be right, but Nostradamus is still waiting to be vindicated too.

Gerarddm
06-18-2013, 09:42 AM
Elliot Wave theory is still predicting a market Armageddon collapse by 2016. Of course, Robert Prechter of Elliot Wave has been preaching this for some time now... Not to mention chump hysterics like Peter Schiff and Gerald Celente.

Cuyahoga Chuck
06-18-2013, 10:18 AM
"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.

Read Latest Breaking News from Newsmax.com http://www.moneynews.com/MKTNews/billionaires-dump-economist-stock/2012/08/29/id/450265?PROMO_CODE=1393F-1#ixzz2WZLhnSVa

Are you making contingency plans. mate? If we go, you go. Being on the wrong side of the equator will not save you.

skuthorp
06-18-2013, 05:17 PM
I deliberately made no comment myself and thanks for the comments re the sit itself. Sometimes this stuff get's into the serious media here and our own political argy bargy feeds it for local advantage. Of course we view it along with the Chinese debt situation. The country is doing OK in world terms, but our manufacturing industry, and it's jobs is disappearing fast and so locally and personally the voters are not so sanguine as the economists and capital. BTW, I had not picked up that Newsmax was a selling setup for precious metals.

Waddie
06-18-2013, 07:26 PM
Let's all remember that this is the summer time. It's never worth following stocks in the summer. But we are in what's been aptly called a "sideways" market. (One that fluctuates within a given range).

And Newsmax is always preaching doom and gloom....

regards,
Waddie