Reported 8 days ago
Warren Buffett's Berkshire Hathaway has been aggressively selling stocks, notably reducing its stake in Apple from nearly $175 billion to around $70 billion. This move comes as the holding company's cash reserves have soared to a record $320.3 billion, reflecting a cautious outlook on the stock market. Buffett is concerned that the market's valuation, presently at 198.1% of U.S. GDP, indicates potential overvaluation, prompting him to secure cash as a buffer against future uncertainties.
Source: YAHOO