May 4th - 2 Reasons for Possible Sell-Off

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May 4th - 2 Reasons for Possible Sell-Off

Post  slg on Sat May 02, 2009 8:44 am

1) Billionaire investor Warren Buffett, the chairman and chief executive officer of Berkshire Hathaway Inc., said he’s seen no indication of recovery from the real estate slump that helped cause the U.S. recession.

“There’s no signs of any real bounce at all in anything to do with housing, retailing, all that sort of thing,” said Buffett, 78, in a Bloomberg Television interview before the Omaha, Nebraska-based company’s annual shareholder meeting today. “You never know for sure, even if there’s a leveling off, which way the next move will be.”

He said the truth, and Buffet's words have been influential to many investors.

2) U.S. Regulators may compel as many as 14 of the nation’s 19 largest banks to raise common equity based on financial stress tests due to be completed next week, said Paul Miller, an analyst at FBR Capital Markets Corp.

Uncertainty may push sell-off in financial sector, leading to others too.


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