Warren Buffett has decided to sell off his most high-profileinvestment in
According to the article, investors have said the sale ofPetroChina is a sign that some Chinese stocks may be overvalued, now might bethe right time to cash in by getting out.
Social activists, however, have been pushing investorsto sell their shares in the company, and see a small victory in Buffett’s move,as government-controlled PetroChina invests heavily in
“There are a lot of people paying attention to what he(Buffett) is doing and watching the trajectory of his move,” Andrew Foster,director of research at Matthews China Fund, told the Journal. “As investors, we’re allwrestling with the fact that it’s difficult to justify current valuations in