Gen Re’s Gilbert Says Fed Sets Up Stocks for a Decline
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General Re-New England Asset Management, a unit of Warren Buffett’s Berkshire Hathaway Inc., said Federal Reserve policies that lifted stocks have also introduced systemic risks that could cause shares to tumble.
Twitter Inc., which surged more than 70 percent in its first day of trading as a public company last month, is an example of investor euphoria, GR-NEAM Chief Investment Officer John Gilbert wrote in his December commentary posted on the asset manager’s website. The microblogging service is valued at more than $20 billion without having reported a profit.