| Fellow Investor, A handful of billionaires are quietly dumping their 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. Unfortunately, Buffett isn't alone. Fellow billionaire John Paulson, who made a fortune betting on the subprime mortgage meltdown, is clearing out of stocks, too. Paulson's hedge fund dumped 14 million shares of JPMorgan Chase, according to a recent filing. The fund also dumped its entire positions in Family Dollar and Sara Lee. Finally, billionaire George Soros has 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. So why are these billionaires dumping their shares of U.S. companies? Do they know something the rest of us don't? Here's what we think is going on. David Dittman You're receiving this email at benjamart.ss.stock@blogger.com because you subscribe to an Investing Daily e-letter. Never miss an email. To ensure delivery directly to your inbox, please add postoffice@investingdaily.com to your address book today. If you no longer wish to receive emails from Investing Daily, please go here. Preferences | About Us | Contact Us | Privacy Policy Copyright 2014 Investing Daily. All rights reserved. |
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