http://www.bloomberg.com/apps/news?pid=20601087&sid=awnLgcYqBrnU&refer=home He tells americans to buy back in oct now he's getting out as fast as he can. He doesn't mind american suckers being the bag holders. Ha ha. He's even been dumping staples like J&J and Procter gamble. Look out below!
He has a shitload of puts short on his plate. He was bullish enough to write them. But I think he might be concerned with his exposure and sold his PG/JNJ to insure he has enough cash to meet the potential of those put contracts.
Buffet was a great investor. But no one is perfect. In his case, his confidence and trust in GUBMINT solutions was misplaced.
It always worked for Buffet until it didn't. That seems to happen a lot to the world's greatest traders. Iguess the fact is, you never really know when what's worked in the past, will suddenly not work any longer.
Buffet is a hack. So is boone pickens. Buffet happened to get lucky and had enough $ involved at the right time to turn it into a fortune, it has nothing to do with his "skill" Pickens knows about oil about as much as my 6 year old niece. He's another one, textbook luck. And because of that people like the ones that frequent ET will be on their nutsack on their every move because they feel these guys are supernatural investors that can predict the future.
I read the article. It talks about how he's getting out of J&J and Procter, but it doesn't really elaborate on him "getting out" much. That is YOUR interpretation and quite slanted, if I may say so myself. It even mentions a few companies he's staying in or increasing his stake in. And even if he is, it's not because he thinks equities are doomed. This quote sums it up a bit more (also in the article): "âWhen youâre getting fixed-income returns of 10 and 15 percent, why be in equities?â Are you all so desperate to paint a negative picture that you slant the stories you find on Bloomberg?