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Sri Lanka Equity Forum » Stock Market News » Bill Gross says you can thank Warren Buffett for Tuesday's stock market rally

Bill Gross says you can thank Warren Buffett for Tuesday's stock market rally

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VALUEPICK

VALUEPICK
Expert
Expert
http://finance.yahoo.com/news/bill-gross-says-thank-warren-215544526.html
 
Bill Gross says you can thank Warren Buffett for Tuesday's stock market rally.
Via the @JanusCapital account on Twitter, Gross said on Tuesday: "Buffett, not oil, likely cause of today's rally. $32 billion purchase of PCP closes Friday. Fresh $$."


Breaking it down:


·  There's been a very tight relationship between the movements in crude-oil prices and stocks of late. Of course on any day there's more than one "catalyst" moving markets, but the fact that oil and stocks move in tandem almost daily has been hard to ignore.


· But Gross' comment, then, is saying that the rally had to do with the closing of Buffett's acquisition of Precision Castparts, a huge supplier to the aerospace industry, for $32 billion. The deal was announced last August, finally has the blessing of regulators, and will close on Friday.


· And since Berkshire Hathaway's largest acquisition ever is finally closed, Buffett can take some of the company's cash and redeploy it into the market and buy other things. That is: all of the stocks. Or so the story goes.

Maybe Gross is actually talking about Buffett, or maybe he's just referencing value investors in general who might look at current stock market levels and want to buy.

Either way, we know we definitely haven't read this anywhere else.

VALUEPICK

VALUEPICK
Expert
Expert
http://www.dailyjournal.net/view/story/747850c1338149599fbd8751397e0285/NE--Berkshire-Hathaway-Precision-Castparts

Warren Buffett's company expects to complete its $32 billion acquisition of Precision Castparts on Friday.

VALUEPICK

VALUEPICK
Expert
Expert
http://fortune.com/2016/02/17/kinder-morgan-stock-warren-buffett/

How Warren Buffett Helped Drive the Market's Longest Winning Streak of 2016

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