Billionaire Buys Signal Hedge Funds Bullish on Economy
Tuesday, February 23, 2010 : PermalinkBloomberg – Some high-profile fund managers were picking up energy and airline names during Q4, and Bloomberg sees the buys as a bullish indicator for economic acceleration.
Back in November, when Berkshire Hathaway announced the outright purchase of railroad Burlington Northern Santa Fe, CEO Warren Buffett called the move an “all-in wager” on the U.S. economy.
While recent critics have likened the Oracle of Omaha’s equity portfolio to an index fund, the same certainly cannot be said for another pair of economic bulls, which Bloomberg highlighted this morning. According to the report, increasing stakes in largely economy-tied segments indicates positive sentiment following the S&P 500’s impressive 23% 2009 rally.
