As you probably know, Warren Buffett gave BofA a $5 billion vote of confidence yesterday. That sent the US markets up north for a short while.
The other point to note is that the whole world is focus on Jackson Hole tonight.
· There had been no capitulation in the past week
· The VIX index is not at its high
And the puzzling factor is his announcement of BofA vote of confidence a day before the Jackson Hole event.
While the whole world is rebalancing their portfolio, he makes a big investment before the Jackson Hole event.
Does he know something we do not know?
We’ll find out tonight and watch how the markets will react the following week.
I thought the above is worth pondering.
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