FT: Warren Buffett's stock-selling spree extends for eight quarter

Gaius · 2024-11-03T02:57:12.443Z

The story is free and unblocked. Snittpets appear below:

ft.com

Warren Buffett slashes Apple stake as he boosts cash to record high

Berkshire’s stock-selling spree extends for eighth quarter, with $166bn dumped over the period

Gaius · 2024-11-03T02:59:01.785Z

The story continues and says he is selling many stocks, not just Apple, and not re-investing in anything else.

Phaw!! Crazy old man. What does he know?

Eagle-Keeper · 2024-11-03T19:33:47.164Z

Sooner or later this Market run will come back to earth with a 20-30% sell off.

Gaius · 2024-11-03T19:42:20.215Z

That is a likely scenario. (at least 30-50% probability.)

Added:
On the way up: ~7 stocks rose and 493 were kind of anemic.
Things could look similar on the way back down.

Oryx · 2024-11-03T22:49:02.769Z

Eagle-Keeper:

Sooner or later this Market run will come back to earth with a 20-30% sell off.

It’s an Elon Musk campaign promise.

NBC News – 1 Nov 24

Musk asks voters to brace for 'hardship' from spending cuts in potential...

Donald Trump wants the Tesla and SpaceX CEO, who himself has taken in billions from federal contracts, to oversee “efficiency” efforts for the government.

Gaius · 2024-11-04T18:42:59.768Z

Here is a long-term chart of the S&P.

What do you think comes next?

image885×612 82.5 KB

Oryx · 2024-11-04T18:51:48.449Z

“Hardship,” according to Trump advisor Elon Musk.

Gaius · 2024-11-04T23:36:26.453Z

Oryx:

“Hardship,” according to Trump advisor Elon Musk.

Call me a pessimist if you must but I think we’re gonna face some “hardship” no matter which candidate wins.

image500×590 40.3 KB

Oryx · 2024-11-04T23:40:36.884Z

Gaius:

Call me a pessimist if you must but I think we’re gonna face some “hardship” no matter which candidate wins.

Of course, always. But only one side is proposing that their policies will push us into recession and hardship for our own good. Do you really trust Musk on this? Maybe he’ll do to the US what he did to Twitter. . .

Gaius · 2024-11-04T23:44:56.140Z

Oryx:

Gaius:

Call me a pessimist if you must but I think we’re gonna face some “hardship” no matter which candidate wins.

Of course, always. But only one side is proposing that their policies will push us into recession and hardship for our own good. Do you really trust Musk on this? Maybe he’ll do to the US what he did to Twitter. . .

Elon Musks tweet adds no new information and no new policy.
No sense pretending like it does.

Is also completely unrelated to the thread (but since the thread is kinda dead anyway, that’s not a major faux pas)

Oryx · 2024-11-04T23:48:18.553Z

Gaius:

Elon Musks tweet adds no new information and no new policy.
No sense pretending like it does.

It tells you what Musk wants to do and what he thinks Trump’s economic policies will do. And no sense pretending it’s meaningless.

Bartiromo then asked: “So he will be in the cabinet?”

Trump replied: "Not in the cabinet, he doesn’t want to be in the cabinet, he just wants to be in charge of cost-cutting. We’ll have a new position. Secretary of Cost Cutting.

Newsweek – 14 Oct 24

Trump reveals new position he'll create for Elon Musk if he wins presidency

During an interview on Fox News, Donald Trump says he wants Elon Musk to be in charge of government cost-cutting if he is re-elected in November.

Gaius · 2024-11-04T23:49:21.477Z

Whicj is practically identical to “Buffett sells Apple stock.” huh?

Oryx · 2024-11-04T23:52:03.726Z

I don’t know what that means. Buffett is not the “Secretary of Cost Cutting” or anything else in government.

I also find it pretty amusing that Trump doesn’t seem to know what a presidential cabinet is.

Gaius · 2024-11-04T23:53:30.073Z

Patrick Mahomes’ completion percentage is 68.4%

Oryx · 2024-11-04T23:55:55.101Z

Is this some kind of weird trolling or did you post in the wrong thread?

Gaius · 2024-11-04T23:59:38.935Z

Funny, I was gonna ask you the same ting.
How are Elon Musk’s statements about Donald Trump related at all the Warren
Buffet selling stock and accumulating cash for the past 2 years?

Oryx · 2024-11-05T00:13:43.535Z

The connection is obvious but I’ll spell it out for you. You ask, why is Buffett selling stock and accumulating cash for the past two years? Maybe Trump’s future Secretary of Cost Cutting (not a cabinet position) stating that intentional hardship and stock price “haircuts” are in our near future has something to do with it.