Where the U.S. Economy Is Heading According to Buffett

Marc Lichtenfeld writes: Many investors like to follow the “smart money.” And it doesn’t get much smarter than Warren Buffett. So it’s worth examining what stocks Buffett is buying and selling, not just for individual names, but to gauge his overall comfort with the market.
In the quarter ending in December, Buffett’s Berkshire Hathaway (NYSE: BRK) sold all of its shares in Exxon Mobil (NYSE: XOM) and ConocoPhillips (NYSE: COP). It also reduced its holdings in National Oilwell Varco (NYSE: NOV) by about 18%. A lot of Buffett watchers have interpreted his reduced holdings in energy as bad news for the industry.