“Bond King” Bill Gross and Warren Buffett have expressed less optimism about the stock market. In a tweet, Gross said there are few “bull stocks” and pointed to pipeline master limited partnerships, banks, and financials in general. He suggested investors stop talking about buying dips and start asking about selling recoveries.
Buffett’s Berkshire Hathaway reported that it sold $75.5 billion worth of stock in the second quarter, nearly halving its stake in Apple. This sale was not due to a sudden change in market conditions, as it occurred before the recent selloff when the S&P 500 was setting new highs.
Berkshire has continued selling stocks into the third quarter, unloading almost $4 billion worth of Bank of America shares over the past few weeks. Some analysts believe Buffett is simply managing his portfolio and not necessarily bracing for a downturn. Others remain bullish, predicting a rally towards the end of the year as the election offers more clarity and the economy continues to show slow growth.
Source: https://fortune.com/2024/08/03/stock-market-crash-bill-gross-dont-buy-the-dip-warren-buffett-berkshire-hathaway-sell-signal/