Stan Druckenmiller Recommends IBM As A Short, Shares Dip
Stan Druckenmiller is now the second major hedge fund manager this week to oppose Warren Buffett over a stock. He said today that he's actually shorting International Business Machines Corp. (NYSE:IBM), which happens to be one of Buffett's two largest position, according to a recent Bloomberg interview conducted at The Robin Hood Conference. Buffett's stake in IBM is estimated to be worth as much as $13 billion.
Incidentally, one of Buffett's other largest positions, Exxon Mobil Corporation (NYSE:XOM), is being shorted by Jim Chanos.
Druckenmiller pushes IBM lower
Twitter posts from various users and some analysts suggest that Druckenmiller's comments about International Business Machines Corp. (NYSE:IBM) may have caused the stock to dip just slightly.
SORRY! This content is exclusively for paying members. If you are subscribed and having an account error please clear cache and cookies if that does not work email [email protected] or click Chat.
|
