Robert Kiyosaki claims that Warren Buffett and Michael Burry are preparing for a potential stock market crash.
Kiyosaki stated that Buffett is holding $147 billion in short-term Treasurys. “Michael Burry of ‘The Big Short,’ he’s shorting the market right now,” he said on “Cavuto: Coast to Coast” on Tuesday, Business Insider reported.
See Also: Why US Stocks Are Set For A Muted Open Today
Buffett’s Berkshire Hathaway BRK BRK recently sold a net of $8 billion of stocks, leading to a 13% increase in its total amount of cash and Treasurys to a near-record $147 billion.
On the other hand, Burry’s Scion Asset Management disclosed that it held bearish put options on the SPDR S&P 500 ETF Trust and Invesco QQQ Trust, implying he stands to profit if the indexes fall.
Buffett hasn’t explicitly predicted a crash, he’s sold $33 billion of stocks on a net basis over the last three quarters. Burry has predicted the “mother of all crashes” and taken short positions, signaling a potential market downturn.
Photo Courtesy: Wikimedia Commons
Read Next: US Stocks Surge, Chipmakers Rally Despite China’s Woes: What’s Driving Markets Monday?
Engineered by Benzinga Neuro, Edited by Navdeep Yadav
The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
