Get ready for the bears.
Berkshire Hathaway’s cash reserves reached a new high of $189 billion in the first quarter, as reported in their recent earnings release. Warren Buffett shared with shareholders that this substantial cash position is expected to hit $200 billion by the end of the current quarter.
This significant amount of cash on hand is seen as a bearish signal for the stock market by some seasoned investors. Bill Smead, CIO of Smead Capital Management and a longtime observer of Buffett’s moves, noted that Buffett’s actions, such as selling Apple shares and increasing cash holdings, indicate his cautious stance on the market.
Buffett’s strategic decision to reduce the Apple stake and boost cash reserves aligns with his views on the current economic landscape.
“I don’t think anyone sitting at…
2024-05-04 17:29:37
Source: finance.yahoo.com