Two of Wall Street’s most influential figures took significant financial actions just days before a major market downturn, raising questions about market timing and insider knowledge.
What Happened: JP Morgan CEO Jamie Dimon sold $234 million worth of JPMorgan Chase & Co. (NYSE:JPM) stock on Feb 20, according to U.S. Securities and Exchange Commission filings. The sale involved approximately 866,361 shares at around $269.83 per share through various family trusts and LLCs.
Days later, Warren Buffett‘s Berkshire Hathaway (NYSE:BRK) (NYSE:BRK) announced a record $334 billion cash balance, suggesting potential caution about market valuations.
Over the next 18 days following these moves, the Nasdaq 100 crashed 8.83%, with JPM stock falling over 9.63% in the same period.
Dimon’s trades have historically served as leading market …
