Posted 2/27/2024, 10:06:00 AM
Buffett Sells Billions in Stocks, Builds Record Cash Pile as He Waits for Market Correction
- Over the past 5 quarters, Buffett has been a net seller of stocks, selling $38.8 billion more than he has bought
- This is a warning that stocks are overvalued right now
- The S&P 500's Shiller P/E ratio is near historic highs, suggesting stocks are ripe for a correction
- Buffett believes there are few good deals in the market currently
- Berkshire Hathaway is sitting on a record $167.6 billion in cash, patiently waiting for better opportunities