US stock market update: Which US stocks are legendary investors like Warren Buffett & Michael Burry buying?
How will markets open today?
- Stock futures indicate a negative opening for US stock market amid rate hike fears.
- AMC Entertainment stock down 33% in pre-market ahead of the debut of its “APE” preferred equity units.
- Netflix share price fell in pre-market after CFRA downgraded the stock to “Sell” from hold.
- Palo Alto Networks and Zoom Video to report quarterly earnings today.
- Ford stock down in pre-market post jury ruling assessing a $1.7 billion verdict against the firm.
Check out what legendary investors bought and sold in the June quarter:
- Buffett's Berkshire Hathaway raised its stakes in Chevron and Occidental Petroleum in the June quarter, with a net outlay of $3.8 billion.
- That shows that Buffett is bullish on energy prices staying high in the short term atleast.
- Berkshire also boosted its stake in Apple, Activision Blizzard, Ally Financial, Paramount, Celanese and exited its position in Verizon.
- The Big Short fame Michael Burry effectively liquidated his US stock portfolio in the June quarter.
- Burry sold all his 11 holdings and added a single position in Geo Group.
- This slashed value of his portfolio from $165 million to $3.3 million.
- Burry has repeatedly warned of a market crash and he might be anticipating a devastating downturn.
- Ray Dalio's Bridgewater ramped up Big Tech bets in the June quarter.
- He raised stake in Meta Platforms more than 50-fold, and its Alphabet position by over 25-fold.
- Dalio also raised bets on Apple, Microsoft, Netflix, and took a new position in Amazon.
- George Soros bought a stake in Tesla worth $20 million in the June quarter.
- Soros might have seen Tesla in bargain territory, as it dropped by 38% in the period.
- However, he slashed its bet on Rivian by nearly a third, probably due to its overvaluation, or he is more bullish on Tesla.
- Stanley Druckenmiller sold their entire stake in Amazon, and slashed their Microsoft holdings by about 25% in the June quarter.
- Stanley believes bear market is far from over and may have sold in anticipation of a deeper tech sell-off in the coming months.
- This is quite opposite to Ray Dalio’s view on tech stocks.
Which stocks did Warren Buffett buy in June quarter?
Buffett's Berkshire Hathaway raised its stakes in Chevron and Occidental Petroleum in the June quarter, with a net outlay of $3.8 billion.
Which is the only stock held by investor Michael Burry in his portfolio?
Burry sold all his 11 holdings and added a single position in Geo Group.
Which companies will report earnings today?
Palo Alto Networks and Zoom Video to report quarterly earnings today.