There were a LOT of people in the #NeverTrump camp.
A lot of haters. A lot of obstructionists. But also some well-to-do, well respected individuals who may now be seeing the error of their ways!
Warren Buffet, perhaps the most famous investor of all time, was a huge Hillary Clinton supporter. He was also selling the markets BIG LEAGUE leading up to the election when he (and the rest of the world) expected her to win. Hmmmm, I guess the “Oracle of Omaha” knew Hillary would have tanked our economy. Isn’t that interesting!
When Trump won, he switched from selling to buying and has since bought over $12 billion in stock! No doubt he has cashed in big time on the so-called “Trump Rally” in the markets! Buffet wins again!
Hard to be a Trump hater when he just made you a boatload of money!
Here are more details from ZeroHedge:
Count one of Hillary Clinton’s biggest financial backers, billionaire Warren Buffet, among the biggest fans of the “Trump rally.”
In an interview with Charlie Rose recorded on Friday, Warren Buffett said that since the election day, Berkshire Hathaway bought $12 billion in stock. This was a change in strategy for Buffett, who as it turns out was a net seller in the first nine days of the month, when Hillary seemed like a guaranteed winner in the November election, one which Buffett was selling into.
“We’ve, net, bought $12 billion of common stocks since the election,” he said in an interview with Charlie Rose that aired on Friday. Buffett didn’t identify the securities that he picked. As of Sept. 30, Berkshire had an equity portfolio valued at $102.5 billion.
Purchases of that magnitude represent a major pickup in activity for Omaha, Nebraska-based Berkshire. During the first nine months of last year, the company bought $5.2 billion and sold or redeemed roughly $20 billion worth of stocks, according to a regulatory filing. In 2015, Berkshire bought about $10 billion of equity securities
For now, Buffett’s bet has proven wise: stocks have rallied since the Trump victory as investors speculated that the Republican’s policies will stimulate the economy. However, in recent days gains have been pared as the Trumpflation rally is rapidly cooling. On Monday, after the turbulent rollout of an immigration order raised concern that the new administration may follow through with isolationist policies, stocks plunged by the most in 2017.
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