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Politics : Idea Of The Day
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To: IQBAL LATIF who wrote (7506)8/22/1997 7:52:00 AM
From: Cynic 2005   of 50167
 
Iqbal bhai, you said
The rumours of Buffet bailing out of Wells Fargo are not going to help either, why should SEC grant a special
permission to the Mngmt and Buffet not to disclose the level of selling- for me even 100,000 shares constitute
'substantial holdings'

I think it is prudent thing to do. The news of Buffet's selling some stake itself triggers selloff in individual stocks. But apparantly he was "liquidating" WFC and GD and that could rattle markets. By concealing or postponing the news they are looking for an orderly sell-off. A few weeks ago I wrote this piece to Taqi. Then, it was only a lucky guess. Now it seems to be a reality.
"When I said 2-3% sale, I am not talking about the mutual fund guys or even traders. MFs
only constitute to about 12-14% of the stock assets (depending on which figure you
believe) A vast majority of the stocks are still owned by INDIVIDUALS (I don't recall the
exact no.) I am talking about those people. I don't know if you are watching KO action.
Buffett is up about 10x on his orginal investment. On the 10th of this month IF he discloses
on a 13D that he has sold some 10% of his stake in KO what does indicate? First of all, for
the ultimate buy-and hold crowd, it sends a message. For all you know, it could be a trigger
event for major sell-off. I am not saying it will happen. It could!"
in ->http://www.techstocks.com/~wsapi/investor/s-14747/reply-5113

Regards.
-Mohan
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