Does The SEC Let Warren Buffet Win In A Two-Tier Stock Market? We aRe The 99.99999999%
The WSJ’s Deal Journal gets an idea:
Check out the footnote to Buffett’s latest disclosures of his investment holdings released by the SEC:
“Confidential information has been omitted from the Form 13F and filed separately with the Commission.”
In other words, Buffett got permission from the SEC to keep some of his stock holdings secret. This isn’t unusual for Buffett. Most big investors have to publicly reveal their stock investments every three months.
Problem is, when other investors get wind that Buffett is buying a stock, the price tends to zoom up — meaning the price goes up for Buffett to buy more. So Buffett periodically asks the SEC to keep some of his stockholdings a secret.
Is this evidence of a two tier market, anyone? Is this how the very rich stay very rich? And can the 99% camped out in New York become the 99.9999999999% and make Buffet and his ilk explain how it works..?