Warren Buffett Sends Wall Street a Grim $348 Billion Warning. History Says the Stock Market Will Do This Next.
Warren Buffett is widely regarded as one of the greatest stock pickers in American history. His patient, value-oriented investment philosophy has turned Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) into a trillion-dollar company with a $264 billion stock portfolio.Importantly, the S&P 500 (SNPINDEX: ^GSPC) dropped into market correction territory in March, and the benchmark index was nearly 9% below its record high when the first quarter ended. As the stock market tumbled, Buffett and his co-investment managers continued to stockpile cash and sell stocks.The $348 billion cash position is a particularly grim warning for Wall Street. It means Buffett struggled to find compelling buying opportunities despite the stock market correction. But the $1.5 billion in net stock sales is also noteworthy. Berkshire has now been a net seller of stocks for 10 consecutive quarters.Continue reading
Warren Buffett is widely regarded as one of the greatest stock pickers in American history. His patient, value-oriented investment philosophy has turned Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) into a trillion-dollar company with a $264 billion stock portfolio.
Importantly, the S&P 500 (SNPINDEX: ^GSPC) dropped into market correction territory in March, and the benchmark index was nearly 9% below its record high when the first quarter ended. As the stock market tumbled, Buffett and his co-investment managers continued to stockpile cash and sell stocks.
The $348 billion cash position is a particularly grim warning for Wall Street. It means Buffett struggled to find compelling buying opportunities despite the stock market correction. But the $1.5 billion in net stock sales is also noteworthy. Berkshire has now been a net seller of stocks for 10 consecutive quarters.
