Amid Slew of 13F Filings, What Should Inform Your Trades?
By: There are few things that pro traders enjoy more than whale watching – that is sifting through the latest filings to determine how billionaire investors are putting money to work.
And on Monday a slew of these so-called 13F filings flooded the Street. Amid a sea of buying and selling, here’s what the Fast Money pros thought was most noteworthy.
1. Warren Buffett disclosed new stakes in Intel and DirectTV ; also he bought IBM near its peak.
Adami: Buffett's time horizon is 10-years. Long-term he may be right but in the next 10 minutes, I don't think IBM goes a lot higher.
Najarian: The fact that Buffett is going into IBM when others are making a case against this stock due to valuations is interesting to me. As for Intel, I think it’s a company with a great balance sheet and strong management team.
2. David Tepper said he sold out of his positions in Wells Fargo and Bank of America entirely and cut his stake in Citi .
Adami: The fact that he's cutting suggests Tepper thinks the space is dead for the foreseeable future.
Grasso: This tells me that big investors aren't looking for financials to lead the market higher. It's another sign that industrials, materials and energy will be leading indicators.
Terranova: Tepper isn't the only whale getting out of the big banks. But I would say, Blackstone, Knight Capital and Goldman are all worth a look.
Najarian: We still don't have enough clarity to go long banks. But if you must go long, I'd do it with asset managers that are less likely to have exposure to the financial crisis in Europe.
3. Mark Cuban has over 50% of his portfolio is in cash.
Grasso: It's a sign that investors don't feel safe. And if the world starts collapsing it doesn't matter what you own, 70% of all stocks move with the S&P.
4. Bruce Berkowtiz of Fairholme Capital cut his stake in Berkshire and Goldman. Also he reported new stakes in Verizon , Telefonica and AT&T . Also Berkowitz reported stakes in Wells and Shell.
Najarian: This is a sign that big money is looking for dividend yield.
5. John Paulson cut his position in the SPDR Gold Trust by almost a third.
Adami: I suspect Paulson was stopped out and he still loves gold.
Kelly: I find it positive for gold . Paulson is the largest shareholder and the market had been wondering when he would sell. If he always has sold out, I'd buy dips.
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Trader disclosure: On Nov 9, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Najarian is long AAPL; Najarian is long C; Najarian is long WFC; Najarian is long MS; Najarian is long INTC; Najarian is long YHOO; Najarian is long WFT calls; Najarian is long GE; Najarian is long GRPN; Adami Owns AGU; Adami Owns C; Adami Owns GS; Adami Owns INTC; Adami Owns MSFT; Adami Owns NUE; Adami Owns BTU; Terranova is long LQD; Terranova is long MUB; Terranova is long SU; Terranova is long HES; Terranova is long AXP; Terranova is long IBM; Terranova is long AAPL; Terranova is long EMC; Terranova is long SBUX; Terranova is long EF; Terranova is long TNQ; Terranova is long CAT; Grasso owns AA; Grasso owns AKS; Grasso owns ASTM; Grasso owns BA; Grasso owns BAC; Grasso owns D; Grasso owns KEG; Grasso owns LIT; Grasso owns MHY; Grasso owns PFE; Grasso owns PRST; Grasso owns S; Grasso owns XLU; Nations is long SPY
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