1. #1

    Billionaires are pulling money from stock market, before 90% correction?

    Found an article with rather dim outlook: http://www.moneynews.com/MKTNews/bil...source=taboola

    Here are some quotes:
    Despite the 6.5% stock market rally over the last three months, a handful of billionaires are quietly dumping their American stocks . . . and fast.
    ...
    In the latest filing for Buffett’s holding company Berkshire Hathaway, Buffett has been drastically reducing his exposure to stocks that depend on consumer purchasing habits.
    ...
    Fellow billionaire John Paulson, who made a fortune betting on the subprime mortgage meltdown, is clearing out of U.S. stocks too. During the second quarter of the year, Paulson’s hedge fund, Paulson & Co., dumped 14 million shares of JPMorgan Chase. The fund also dumped its entire position in discount retailer Family Dollar and consumer-goods maker Sara Lee.

    Finally, billionaire George Soros recently sold nearly all of his bank stocks, including shares of JPMorgan Chase, Citigroup, and Goldman Sachs. Between the three banks, Soros sold more than a million shares.
    It’s very likely that these professional investors are aware of specific research that points toward a massive market correction, as much as 90%.
    ...
    Before you dismiss the possibility of a 90% drop in the stock market as unrealistic, consider Wiedemer’s credentials.

    In 2006, Wiedemer and a team of economists accurately predicted the collapse of the U.S. housing market, equity markets, and consumer spending that almost sank the United States. They published their research in the book America’s Bubble Economy.
    ...
    In the interview for his latest blockbuster Aftershock, Wiedemer says the 90% drop in the stock market is “a worst-case scenario,” and the host quickly challenged this claim.
    90% correction would suck.
    Hopefully this is just sensational journalism.
    Not really sure it would benefit your average American to pull money out of stocks and hide it under a pillow.
    Although perhaps an investment in a coin-couch is a reasonable idea.

  2. #2
    Banned This name sucks's Avatar
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    Inb4 hyperinflation.

  3. #3
    Merely a Setback Rukentuts's Avatar
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    You know why else you'd dump American stocks depending on consumer spending?

    Could it be...I dunno...the fiscal cliff?
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    Both of those links don't provide any evidence. They make unsubstantiated statements

  4. #4
    Quote Originally Posted by someotherguy View Post
    Not really sure it would benefit your average American to pull money out of stocks and hide it under a pillow.
    Not US dollars

    GOOOOOOOOOLD

  5. #5
    Quote Originally Posted by LilSaihah View Post
    Not US dollars

    GOOOOOOOOOLD
    Or copper or iron or paper.

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  6. #6
    Quote Originally Posted by Bergtau View Post
    Or copper or iron or paper.
    I'm going to invest in the US Steel industry.

  7. #7
    Quote Originally Posted by Bergtau View Post
    Or copper or iron or paper.
    Start saving up semen. THAT is the currency of the future!

  8. #8
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    Quote Originally Posted by madethisfor1post View Post
    Start saving up semen. THAT is the currency of the future!
    The Matrix taught me that the currency of the future will be sunlight, so I've been saving it in jars.
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    XKCD is always relevant. Always.

  9. #9
    Quote Originally Posted by Bergtau View Post
    Or copper or iron or paper.
    Dunno about paper, but those two both work.

    My personal favorite is guns and ammo.

  10. #10
    It's prudent to expect inflation and stock market decline in the next decade, but people shilling scenarios like a 90% drop are doing so because they profit in some way from inflating the gold bubble.

  11. #11
    The Insane smrund's Avatar
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    You know what happens when billionaires dump american stocks? The american stock marked takes a dump!

    Gee! Who'd have thought that!

    Let it drop IMO, then lets eliminate the damn thing. We'll all be better off.
    Last edited by smrund; 2012-12-27 at 04:53 AM.
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    And thus I give you: MALE contraception!

  12. #12
    The market has been ready to crash into a major depression for 10 years now according to the media.

    As with most other subjects, the media is once again way off. Take everything you hear about the market with a grain of salt, most of it is just fear mongering nonsense to gain viewers or readers.
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  13. #13
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    With the changing winds around capital gains, I would personally stay away from the markets right now. I know that I personally pulled out while I was ahead.

  14. #14
    The Insane Didactic's Avatar
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  15. #15
    90% is just nonsense, that would be the collapse of America. Do you think they re-invest it somewhere else or bury it in the back yard where its safe?

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