Posted on 11/27/2023 6:44:21 PM PST by Leaning Right
Warren Buffett’s Berkshire Hathaway unloaded its entire $850 million worth of General Motors (GM) stock last quarter, according to a Securities and Exchange Commission filing.
(Excerpt) Read more at cnn.com ...
I wonder why Buffett dumped GM. Maybe they weren’t making electric vehicles fast enough. Ha!
Anyway, I just checked GM’s stock price. It’s been bouncing around only a little since Buffett sold his stake. So I guess his move didn’t spook anyone.
I’m surprised he didn’t dump it years ago after Obama wrecked it.
GM is a wicked company that deserves a painful death.
Buffet is still a business man first, globalist resetter second floor nlike most of the elites billionaires, IMHO
Meh. He seems to be overweight in cash. Well, for his age about 45% cash makes sense.
LOL . So he can’t find stocks to buy?
I guess he is going for lots of debt while rates are high.
I wonder what his bonds holdings look like: maturities? Corporate vs. Government? All that boring stuff.
Warren doing some insider trading like Pelosi.
He knows something that hasn’t come up yet.
GM appears to be full steam ahead for EVs. I’ve heard nothing to the contrary which means the’ve already burnt multi-millions, perhaps a billion on doomed EVs.
Every day it gets more costly.
Warren’s not stupid....time to sell GM before it becomes junk stock.
Just checked my Search Engine, which tells me that GM is halting, delaying, discontinuing production on EVs.
And Buffet is, after all, a Democrat, who absolutely must support more and more production of EVs.
GM, like Ford... is in serious trouble.
Trucks are way overpriced and not selling.
Showrooms are filled with unsold cars.
No one wants Detroit EV cars or for that matter Japanese or EU EV.
Losing money on every EV sold is not a good business model.
Bingo it’s killing them
BH is trying to corner the energy markets by illegally bribing politicians to ban gas pipelines (think Keystone), prohibit oil exploration, taking over electrical distribution system, and prohibiting competing consumer markets like gas cars.
I dumped my small holding over a month ago when I read about their problems with marketing EVs.
IIRC-—Reports a week ago said that the CEO had shut down ALL EV production at GM.
Too many unsold vehicles on the dealer lots.
Since they killed Oldsmobile, what even any good are they any more anyway?
“Meh. He seems to be overweight in cash.”
He is a piker compared to me.
I am 100% in short term money markets/treasuries.
Why?
They are currently paying over 5% with super low risk.
Stocks are overvalued by any historical metric—P/E is one—and stocks have not corrected to reflect the higher cost of capital due to higher interest rates in the last couple of years.
It is not that I don’t believe that stocks cannot go up—it is just that (imho) the risk of a future market crash is not being reflected in current prices.
I don't know about GM. But Ford is selling them about as fast as they can make them.
My wife and I bought one of the new Maverick trucks. I had to wait a year to get it!
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