iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
20,402 Blog Posts

Buffett Dumps Most of His Goldman Stake, Maintains. $BAC, $WFC, $USB and $BK — STFU

Lots of chitter chatter on Friday by all of the FUCKERS on Twitter about Cherry Coked Buffett dumping his stake in Goldman. More or less, people equated this to a cast of doom about to be wrapped around the necks of investors. Come Monday, these monstrous people wanted necks fitted with nooses and markets limit down — all because old man Buffett decided to liquidate a little of this and a little of that.

Listen to me you ignorant fucks: He sold 84% of Goldman, but kept his 925 million shares of BAC intact, as well as his AAPL, AXP, USB, BK, and MCO holdings. Sure, he sold out of TRV and trimmed a little JPM and maybe some SY — but he also increased his PNC stake.

A man like Buffett is not to be replicated or taken very seriously on a short time horizon. Buffett is the American economy and moves in small increments, slowly accumulating wealth like a GIGANTIC FAGGOT, all the while drinking cherry chokes inside of his bathtub — etching out deals to save the financial system.

I only say this, obviously, because I am long FAS and do not want fear to crawl its way back into stocks before I had a chance to sell.

By the way, Exodus flagged an OS late last week and look what we have here — another way to win.

The good guys can’t help but to win.

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20 comments

  1. soupbone

    The airlines investment was misguided for Buffett but respect totally his selling at a loss for a cleaner slate. He was the one who taught us never invest in airlines decades ago.

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  2. tjnyt

    FLY, don’t you think the old man’s been losing his marbles/Midas touch? I’m mostly long.

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    • Dr. Fly

      Who knows?

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    • juice

      By the time everyone thinks Buffett has gone the way of Biden, he’ll steal your girlfriend and leave you penniless, all the while adding another billion for Gates to vaccinate your ass with chips that will track you as you take a dump.

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  3. tjnyt

    Everybody is away protesting the lockdown.

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  4. fxtradepro

    Buffets information is better than everybody’s here. Looking for a silver lining in this is asinine.

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  5. purdy

    Money printing will help those companies which provide desired services and products and which are positioned to gain share due to the manner in which they provide those things in this diseased environment. Also, companies which provide must-have products that keep people alive will benefit from politicians being compelled by self-interest to do the minimum for them. But this isn’t the time for broad etfs short or long – it is time to be short individual losers.

    Also, home builders will not benefit from Fed candy – as some expect.

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  6. cancel19

    No one is immune to Black Swans! Not even the old Jimmy the Omaha Buffet.

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  7. trumpmeister

    Eh… his financial holding is him betting on the recovery of the US economy. Good job on him dumping that toxic hedge fund GS that’s disguised as a bank lol

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  8. purdy

    PMs are suggesting that they’ll be able to inflate our debts away. Inshallah.

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  9. tjnyt

    First let them inflate my junk, BA,BAC,BUD,RTX,SPG,SLG, GS,WFC,WYNN.

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  10. trumpmeister

    Buffet is too active mentally and physically to go full dementia state like Biden

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  11. narcist

    Metals reversing real hard right here.

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    • trumpmeister

      Precious metals will correct from here with the fear trade being off. It presents an excellent opportunity to buy back possibly WPM at cheaper prices, in order to ride that thing up to about $80

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      • narcist

        $80 for silver? No fucking way. But I may consider beginning to buy sub-$17.

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        • narcist

          So I got in a smallish long position sub-$17.5 anyway, given the lack of any follow-thru selling and that they already bought it back up.

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  12. tjnyt

    Sold my junk, up 51K, 25% for the day.

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