What has been Winkel run up to yesterday's night American news, as reported that Warren buffet has been selling things, this seems to be a bit strange. Let's look at what he's been doing.
Generally people have been expecting Warren Buffett will be by these days, in a very surprising turn of events he's been selling first, he sold before online stock completely exiting his position at the loss and sat on cash people are expecting that he would buy last month.
It turns out last month he sold his entire stake in small stakes in traveler's insurance, and the final flip 66.
But what's most most surprising selling is 85% holding in Goldman Sachs. He has also tremendous positions in JP Morgan, in which he is a large investor Did Goldman Sachs shareholding started with a 2% of the company with a sweetheart deal he got in 2008 when they when Goldman Sachs needed money desperately, and he lent them $5 billion.
He got called options on that. And by exercising his call options, he got 2% of Goldman Sachs v. He's been patiently waiting for so many years. Today, when the last quarter, Goldman Sachs great corrected by 33%. He has dumped in stocks but he also is still holding on development for Wells Fargo, which is done 47% in this period.
This is surprising, because when he was interviewed in his annual meeting, he said banks are not his primary concern in this crisis, because banks are already very capitalist. Nobody can find them what he's thinking about. But one thing is certain with the sales of the airline lanes and the sale of banks.
His cash is going which was at 130 $7 billion at the end of the first quarter in March is going to rise significantly. may even touch hundred and $50 billion.
What is he planning to do with all this cash, money Uncle Warren can answer but one thing is clear.
This is not the time to buy big gun stocks and which is why I say spend what you can afford to lose. Spend 500,000 in by picking stocks, keep your gun powder dry. Wait for the big fall in stock market.
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