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Billionaires Dumping Stocks, Economist Knows Why 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 [...] Billionaires Dumping Stocks, Economist Knows Why 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 [...] by GoldCore Today’s AM fix was USD 1,656.75, EUR 1,232.43, and GBP 1,052.77 per ounce. Silver is trading at $30.90/oz, €23.08/oz and £19.74/oz. Platinum is trading at $1,689.00/oz, palladium at $741.00/oz and rhodium at $1,200/oz. Cross Currency Table – Bloomberg Gold fell $8.80 or 0.53%% in New York on Friday and closed at $1,658.90/oz. Silver saw an initial gain hitting $31.77 in [...] Wolf Richter www.testosteronepit.com www.amazon.com/author/wolfrichter Hasbro, the second largest toymaker in the US behind Mattel, confessed that it would miss fourth-quarter revenue estimates. Christmas wasn’t kind. Despite “double digit growth in our emerging markets business,” as CEO Brian Goldner said, revenues fell by 2% for 2012 and by 3.8% for the quarter. But 4% inflation, preferably more, would have covered up that debacle. The consequences are brutal. There will be a pile of restructuring charges, and 10% [...] From Moneynews: 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…. Read full article
From Forbes: Berkshire Hathaway took the ax to some of the longest-held names in its stock portfolio last quarter, sparking questions over just how much sway Warren Buffett is sharing with his recently-installed investing colleagues… An SEC filing Tuesday detailing Berkshire’s portfolio at the close of the second quarter revealed significant cuts to holdings in Johnson & Johnson, Procter & Gamble, and Kraft Foods, all stalwarts of Buffett’s portfolio… Read full article… They’ve generated billions for investors over the decades. But according to Warren Buffett’s latest moves, the party is winding down for three of America’s best-known – and widely held – cash cows. According to the most recent filings, Berkshire Hathaway (BRK-A) is trimming its positions inJohnson & Johnson (JNJ), Procter & Gamble (PG), and Kraft Foods (KFT). Why has the Oracle from Omaha begun to unload these iconic shares? Buffett is notoriously optimistic when it comes to American stocks, especially [...] Bloomberg
The U.S. economy expanded at a slower pace in the second quarter as a softening job market prompted Americans to curb spending. Gross domestic product, the value of all goods and services produced, rose at a 1.5 percent annual rate after a revised 2 percent gain in the prior quarter, Commerce Department figures showed today in Washington. The median forecast of economists surveyed by Bloomberg News called for a 1.4 percent increase. Household purchases, [...] Economist Joshua Shapiro doesn’t expect things to get any better. “I don’t see any significant drivers for the economy in the second half,” Shapiro says. Per Bloomberg: The U.S. economy probably expanded in the second quarter at the slowest pace in a year as a softening labor market caused Americans to cut back on spending, economists said before a report today. Gross domestic product, the value of all goods and services produced, rose [...] Three women have been arrested after police say they have seized more than $25million worth of fake coupons and $2million in other assets linked to a widespread counterfeiting and forgery operation. Robin Ramirez, 40, Amiko Fountain, 42 and Marilyn Johnson, 54, face multiple charges for operating a website where people purchased coupons for items from major national manufacturers like Procter & Gamble. Police say Ramirez, believed to be the leader of the operation, [...] Already, Nike says that its Chinese stockrooms are piling up with inventory. Similar complaints are coming in from McDonald’s, Caterpillar, and Procter & Gamble Co. Within China, the stakes of a slowdown are high as well: for half a century, political scientists have recognized that political unrest does not tend to erupt in places that are most deprived; it hits when a pattern of rising growth and expectations abruptly stops. And that is Beijing’s [...] The largest emerging markets, whose economies grew more than four-fold in the past decade, are making losers out of everyone from central bankers to Procter & Gamble Co. (PG) as their currencies post the biggest declines since at least 1998. For the first time in 13 years, the real, ruble and rupee are weakening the most among developing-nation currencies, while the yuan has depreciated more than in any other period since its 1994 [...] Proctor and Gamble unexpectedly cut guidance this morning, sending shares down in pre-market trade. In a statement, Procter said “the revisions to the Company’s fourth quarter outlook are primarily driven by slower than anticipated top-line growth from slower than expected market growth rates and market share softness in developed regions and negative impacts from foreign exchange rate changes.” Translation: high unemployment coupled with slow-to-no GDP growth in developed markets are destroying the top line. At a Deutsche Bank panel today, [...] Tide pods ‘look like ribbon candy,’ says poison control expert Miniature laundry detergent packets have caused a spate of poisonings after youngsters have confused the brightly coloured packets with sweets and swallowed them. Doctors say they are concerned as nearly 250 cases have been reported in the U.S this year to poison control centres. What is more the symptoms they see in connection with ingesting the packets – such as nausea and breathing [...] From the London Financial Times, 4/27/12 Net income in the three months to March 31 fell 16 per cent to Goldman Sachs worker caught on wiretap leaking secrets about Apple and Intel to Raj Rajaratnam A person at Goldman Sachs Group Inc, who has not been identified or charged in a broad U.S. insider-trading probe, was caught on a wiretap leaking secrets about Intel Corp and Apple Inc , a lawyer for former Goldman board member Rajat Gupta said in court on Friday. Lawyer Gary Naftalis, in a heated exchange with U.S. [...] Lu Wang U.S. stocks rose this week, driving the Standard & Poor’s 500 Index to the highest level since 2008, after Greece got a bailout and better-than-expected data boosted confidence in the world’s largest economy. Energy companies surged 1.9 percent, the most among 10 S&P 500 industries, as crude oil futures exceeded $109 a barrel. Sears Holdings Corp. rallied 25 percent, the most in the S&P 500, after announcing real [...] Ft.com IBM and Procter & Gamble have sold bonds with the lowest interest payments on record for US marketed corporate issues, as investors accept low returns for the safety of owning debt from secure companies, http://ftalphaville.ft.com/thecut/2012/02/02/864831/highly-rated-us-indu…
Britain faces spending cuts “almost without historical or international precedent” over the next few years and, painful as the squeeze has been so far, it amounts to less than a 10th of what is planned by the [...] From Dividend Growth Investor: Back in 2010 I was invited to participate in a stock-picking competition. The objective was to identify the best four stocks for 2011. You can read the reasons behind my four selections in this article. The four stocks I selected included: The Procter & Gamble Company (PG) provides consumer packaged goods in the United States and internationally. This dividend aristocrat has raised distributions for 55 years in a [...] Walt Disney Co. (DIS) said Chief Executive Officer Robert Iger will take on the added role of chairman next year at the theme-park and entertainment company, part of a plan to appoint a new CEO in 2015. Iger, 60, will succeed John E. Pepper at the annual meeting in March, Burbank, California-based Disney said today in a statement. Pepper, 73, a former chairman and CEO of Procter & Gamble Co., has [...] Seven publicly traded U.S. corporations represented on President Barack Obama’s advisory council for jobs and competitiveness — including General Electric Co. (GE) and Intel Corp. (INTC) — have devoted a growing pool of their non-U.S. earnings to investments in other countries. As a group, multinational companies with current or former chief executive officers on Obama’s jobs council have, over the past four years, almost doubled the cumulative amounts they’ve reinvested overseas, [...] http://online.wsj.com/article/SB10001424… CINCINNATI — Shoppers could soon see higher prices for Pampers diapers, Charmin toilet paper and Bounty paper towels. Procter & Gamble Co. said Monday it raised U.S. list prices for those products because of rising costs for pulp, oil and gas. The Cincinnati-based consumer products maker informed retailers of increases last week. Retailers will decide how much of those price increases to pass along to shoppers. P&G said list [...] |
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