One of the biggest advocates of buy and hold mentality is Warren Buffett. Ironically, he is also known for his great market timing and his ability to anticipate big corrections. Through his partnership, Berkshire Hathaway, he’s obligated to report big transactions to comply with U.S. regulations. This week, we learned through those reports, that he has unloaded about 50% of his position in Apple, and a substantial amount of his investment in Bank of America, for a total of almost $80Bn (see chart below), but he has been a net seller for the last 18 months. His total cash position at Berkshire amounts to almost $280Bn. In addition to that, Hedge fund Elliott managememt has gone public with a letter stating that NVDA, the poster child of the #mag7, is on a bubble and the rally based on AI is overhyped. Pressure mounts on equity indexes, which is being transmitted to the bond market and the US dollar. It will be key to see how the credit market behaves on coming weeks.
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