Billionaire investors Warren Buffett, George Soros, and John Paulson – 3 of the richest men in the world – are selling off millions of shares in U.S. companies at a shocking rate. John Paulson, who made a fortune betting on the subprime mortgage meltdown, is clearing out of U.S. stocks too. During the second quarter of the year, Paulson’s hedge fund, Paulson & Co., dumped 14 million shares of JPMorgan Chase. The fund also dumped its entire position in discount retailer Family Dollar and consumer-goods maker Sara Lee. Finally, billionaire George Soros recently sold nearly all of his bank stocks, including shares of JPMorgan Chase, Citigroup, and Goldman Sachs. Between the three banks, Soros sold more than a million shares.
Posted on: Wed, 17 Jul 2013 15:07:10 +0000
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