Some major news for investors and econo-China watchers. From the Wall Street Journal:
Warren Buffett is selling off his most high-profile investment in China and investors and social activists are wondering why.
The investors, who closely follow Mr. Buffett’s market moves, say the sale of most of Berkshire Hathaway Inc.’s stake in PetroChina Co. is a sign that some Chinese stocks are overvalued after a huge run-up and that now could be the time to cash in by getting out.
The social activists, who have been pushing investors to sell their shares in PetroChina, see a small victory. They say that PetroChina’s government-controlled parent invests heavily in Sudan and buys a large part … [Full Text, for subscribers only]
[Image: Warren Buffett, via tarkinvestor.ee]
