15.09.2016 - Is it Time For Billionaires Like Warren Buffett To Protect Themselves With Gold
It has not been a good week for equity markets, nor billionaire investors. After Tuesday’s selloff, the S&P 500 is down 3% from its all-time highs, which were seen just one month ago. According to Bloomberg, leading the losses among the billionaires is the Oracle of Omaha Warren Buffett who, thanks to his stake in Wells Fargo, lost $1.4 billion Tuesday. The U.S. bank saw significant selling pressure, falling more than 3% Tuesday after it was revealed that bank employees opened up accounts without clients’ permission. Of course, Buffet isn’t alone. Bloomberg noted that according to its index, billionaires lost a total of $37.3 billion yesterday...............................................Full Article: Source
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