Buffett sells energy, buys drugmaker stocks

Buffett sells energy, buys drugmaker stocks

money.cnn.com

NEW YORK (CNNMoney.com) -- Investor guru Warren Buffett bought up millions of shares of health care and drugmaker stocks in recent months while shedding energy shares, according to a Friday filing with the Securities and Exchange Commission.

In his biggest acquisition of the second quarter, Buffett's Berkshire Hathaway (BRK.A) investing company added nearly 4 million shares of drug and consumer product maker Johnson & Johnson (JNJ, Fortune 500), bringing his tally to nearly 37 million shares

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People this is a wake up call. The actions of this man alone go to prove that the act of going around trying to win people over for the new "health care reform", is just that an act. This man is buying stocks because he knows it is going to pass. This along with the H1N1 scare will make Big Pharma very rich. If this bill passes without complication then there will be a huge public outcry. My feeling is that it is going to pass with little resitance in congress or WB would not have bought 4 million shares in Big Pharma stocks.

money.cnn.com
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I agree OP, star and flag.

This is very telling.

People who own energy shares do normally hold on to them as they are/were the stable way of making money, everyone needs energy everyday.

The fact that he is selling off energy stocks, and buying into Pharma shows he thinks it will be more lucrative than energy.

Very telling indeed.

Pocketing Change

My, but there are so many interesting things coming to light these days...

Internal Memo Confirms Big Giveaways In White House Deal With Big Pharma

I'm sure it's all just a coincidence in light of the President's well-documented contempt for "the rich".

With his track record over the past 18 months, I would buy energy and sell pharms. There are great values in energy stocks right now and big Pharm is over sold. He has not been the great guru he once was. I don't normaly give investment advice but time will prove who is right. Buy Mining and exploration companies not Pharm.