Thursday, August 11, 2011

Donald Trump bought stocks

Known more for his real estate deal-making, Donald Trump said he is now buying stocks.

Faced with no returns on bank deposits and a dicey property market, the controversial investor and TV host told CNBC that, with the market in freefall Wednesday, he stepped out of his comfort zone and purchased a basket of bluechip stocks.

"I'm not a stock person," Trump said. "I love real estate, but good real estate is very hard to get."

So even with the market tumbling in a one-day loss that would exceed 500 points on the Dow, Trump bought a slew of large-cap stocks that form the core of the industrials index.

The stocks he purchased: Bank of America, Citigroup, Caterpillar, Intel, Johnson & Johnson and Procter & Gamble.

"I love these companies. I've watched them for years and I've never owned stock in them," he said. "I went out yesterday and said, 'Look, I'm not getting interest on CDs...so I went out and bought some stock."

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