Warren Buffett, Bill Gross and UK fund stars including Jim Leaviss have seen their warnings on US treasuries proved right as S&P downgraded its outlook for US credit.
Legendary investors Buffett and Gross have stood firm against the tide of money pouring into US treasuries following the Japanese earthquake, having warned repeatedly the US economy is in dire straits. PIMCO's Gross, manager of the world's biggest bond fund, sold all his treasuries last month after questioning exactly who would buy the securities when the Fed stops QE in June. Meanwhile Buffett, one of the richest men on the planet, has been warning about a bubble in government bonds for the last few years. He said back in 2009 investors were making a costly mistake snapping up tre...
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