Does Warren Buffett Know Something Wall Street Doesn't? He Just Sold a Vanguard Fund a Top Analyst Says May Soar 169%.
All three major benchmarks roared higher last year amid a general sense of optimism -- from anticipation of a lower interest rate environment to expectations of high growth from artificial intelligence (AI) players. The Dow Jones Industrial Average, the S&P 500, and the Nasdaq each climbed in the double digits. Meanwhile, one of the world's most famous investors wasn't hopping on the bandwagon.Warren Buffett, true to his style of being "fearful when others are greedy" and "greedy only when others are fearful," was a net seller of stocks. As chairman of Berkshire Hathaway, he built up a record cash position of $334 billion. On top of this, Buffett reduced positions in some of his favorite stocks, including his biggest holding, Apple. In a particularly shocking move, the famous investor also closed his position in a Vanguard fund that, according to a top analyst, may soar 169%.All of this is particularly interesting in light of what's happening in the market today. Indexes have tumbled in recent days -- with the Nasdaq reaching into correction territory -- on concerns about the economy ahead. President Donald Trump's launch of tariffs on imports from the United States' three biggest trading partners ignited the concerns, with the idea that higher prices could hurt corporate profits and the consumer's wallet.Continue reading
All three major benchmarks roared higher last year amid a general sense of optimism -- from anticipation of a lower interest rate environment to expectations of high growth from artificial intelligence (AI) players. The Dow Jones Industrial Average, the S&P 500, and the Nasdaq each climbed in the double digits. Meanwhile, one of the world's most famous investors wasn't hopping on the bandwagon.
Warren Buffett, true to his style of being "fearful when others are greedy" and "greedy only when others are fearful," was a net seller of stocks. As chairman of Berkshire Hathaway, he built up a record cash position of $334 billion. On top of this, Buffett reduced positions in some of his favorite stocks, including his biggest holding, Apple. In a particularly shocking move, the famous investor also closed his position in a Vanguard fund that, according to a top analyst, may soar 169%.
All of this is particularly interesting in light of what's happening in the market today. Indexes have tumbled in recent days -- with the Nasdaq reaching into correction territory -- on concerns about the economy ahead. President Donald Trump's launch of tariffs on imports from the United States' three biggest trading partners ignited the concerns, with the idea that higher prices could hurt corporate profits and the consumer's wallet.
