2023-08-17 06:58:01
Robert Kiyosaki, author of the global bestseller “Rich Dad Poor Dad,” said that Warren Buffett and Michael Burry, the protagonist of the movie “The Big Short,” are ready to wait for the stock market to plummet and cheap Goods appear.
Robert Kiyosaki said Buffett has $147 billion in assets, all of his money is invested in short-term government bonds, and he is hoarding cash. And Berry is shorting the market right now. “I watch these guys wait for the market to crash and then come back, and there’s a lot of money sitting on the sidelines right now,” said Robert Kiyosaki.
Buffett’s Berkshire Hathaway sold a net $8 billion worth of stock last quarter and slowed buybacks, boosting the company’s cash and debt totals by 13% to a near-record $147 billion.
Buffett didn’t explicitly predict a stock market crash, but he has sold a net $33 billion in stocks over the past three quarters, adding $38 billion to Berkshire Hathaway’s cash pile.If the market pulls back, he buys penny stocks and buys on the dips, just like he did during the Great Recession
Meanwhile, Berry’s Scion Asset Management disclosed this week that it held S&P 500 Put options on the ETF Trust and the Invesco QQQ Trust, allowing him to profit if the index falls.
Berry has repeatedly warned that U.S. stocks are in a historic bubble and predicted that a major crash will occur. His latest short position was a wake-up call for the market, as he was one of the few people who predicted and profited from the U.S. housing market crash by 2008.
According to a report released by Bank of America, put options on the S&P 500 index of US stocks have never been as cheap as they are today, and hit a new low since 2008.Bank of America also recommends investors to buy put options, and estimates ifS&P 500 IndexOn a 5% decline in the year ahead, those puts pay off.
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