As for Warren Buffett, he doesn't just invest in a company, he buys a sizeable chunk of one...The amount of cash he puts in is enough to move the share price in any direction he likes in many cases.
Agreed, though not just his cash but also his reputation. Ok so he got the first few calls right in his career then success followed him. I think he is a ramper extraordinaire, how he talked up Bank of America and IBM after making those investments. The mere fact of having WB on the register makes share prices jump, just like how speccies get pumped on hearts.
As for AGO, I think there is a lot of unannounced information that is driving this crazy dump. The market might be looking for Legume's stop loss. Commisserations to holders, this would have been absolutely devastating.
At the moment, rallies are being absorbed by financial stocks and anything that pays a half decent dividend, and being financed by selling down of the resources sector. Will it work the other way round too, when resource stocks recover financials go down?
AGO Price at posting:
83.0¢ Sentiment: None Disclosure: Held