Housing which cause financial crises is slowly picking up stream;however the consumer which two thirds of American economy depend on are very cautious to lighten their pocket.
Stocks like Home Depot and Lowe's are doing extremely well,more housing being brought more demand for extra that Home Depot Lowe's sell.
However retail for most part has seem disappointing earning and sales.Yes,there are some exception like Urban Outfits,which specialty store catering to young people.Wal-Mart results disappointing and many believe Wal-Mart is bellwether for the american economy.Macy's also disappointed many on the street,of course,Macy's is the iconic American Department store and besides Macy's the brand also has Bloomingdale's and other from Federated store and name brands from other mergers.
Buffett has sold some of Wells Fargo,but still his largest holding,maybe some profit taking,since financial crisis when was in teens today mid-forties,not bad.Also sold all his Gannett,make big profit no doubt Gannett was in single digits today mid-twenties,however,this might done by the team because Buffett loves newspaper,but true true enough he also lives money and maybe he loves money more than newspapers.
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