Bloomberg: When Warren Buffett Sours on Goldman Sachs, Time to Worry
Keep in mind that although the stock market today is about12% its all time high, it is only about 2% above its level before the steep vertical climb that ended in a crash. The market was expensive then and it is expensive now.
(From Bloomberg)
The crisis has spooked America’s forever optimist so much so that he’s fled the airline industry entirely, and now even certain automobile and banking stocks, according to a regulatory filing Friday detailing Berkshire Hathaway Inc.’s investing moves for the first quarter. This included dumping 84% of Berkshire’s stake in Goldman Sachs Group Inc. and reducing its JPMorgan Chase & Co. position by 3%. Buffett, 89, said proudly just two weeks ago that he thinks “nothing can stop America,” but it’s getting harder to believe him.
Reprinted from: https://www.ac2news.com/2020/05/bloomberg-when-warren-buffett-sours-on-goldman-sachs-time-to-worry/
