America’s #1 crony capitalist, Warren Buffett, is getting blamed for causing the markets to shake, rattle, and roll downward again.
The truth is Buffett does NOT move the markets.
During his recent company’s (Berkshire Hathaway) annual meeting he merely announced that they sold their positions in airline stocks and took a loss.
To Uncle Warren I’ll simply say: Boo, Frickety, Who.
Berkshire Hathaway’s cash position now stands at a whopping $137 Billion…up from $127 Billion.
How did he know to raise so much cash for “such a time as this?” (Was he one of the ones who sold in January ahead of the Kung Flu panic?)
There’s no doubt Buffett is one of the greatest investors of our era.
However, just like in 2008, he’s waiting in the wings to get his share of the Trillions of bail out money printed by our government to save the Wall Street Banksters.
For the Buffett worshippers out there, you probably remember how he so graciously (sarc) stepped up to loan money to failing companies in 2008. But what you likely don’t know is that he was backed by taxpayer money, courtesy of Obama.
His “loans” to the banksters were guaranteed not to fail by your tax dollars.
Ironically (or NOT) this made him look like a hero when in reality he bled the system at our expense.
Once again, the Oracle of Omaha is clearly positioned to be the savior of America with his cash pile of over $137 Billion.
Obviously, I’m not a fan of Uncle Warren.
He always tries to come across as “one of the little people/small investors” by advocating that you should buy ETFs such as the S&P (symbol SPX).
I can guarantee you that he didn’t make his fortune from buying the SPX…yet he wants YOU to buy it.
Also, in his recent earnings video he said he hasn’t had a haircut in over seven weeks because of the CoronaHoax quarantine.
One of the wealthiest men in the world can’t get a barber to cut his hair?
Sorry, I’m getting off topic…again.
Buffett won’t be the cause of the next “Pukefest” in the market…but you can bet he’s waiting in the wings to buy when everyone’s selling out of desperation.
Here’s the good news…You Can Too.
Read our May newsletter to find out how.
Buffett and Gates pic