Read the thread;
This is insane:
— The Kobeissi Letter (@KobeissiLetter) November 2, 2024
Warren Buffett is now building his cash balance at an unprecedented rate, even as the market hits new records.
Berkshire Hathaway just announced that they are FREEZING buybacks and holding $325 BILLION of cash.
What does Warren Buffett see here?
(a thread)
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Just curious. The Banks are failing, the stock market is no longer a haven for Mr Buffett, so where is he keeping all this cash….mason jars buried on his estate?
When the dollar collapses, and it will very soon, his cash will be worthless regardless of where he keeps that cash.
Short term treasury bills from what I’ve been reading.
He HID a lot of his money horde buying his OWN Berkshire Hathaway stock.
Buffett is at a historically HIGH Cash and that speaks poorly of stock values in the near future. Warren was proud of American stocks for decades and even Bank of America is getting sold.
I hope Warren Buffett is building his prayer life. God will call on him soon.
Word. He will have to answer to Him, whose paygrade is way, way higher.
Short the dollar, buy gold, silver, and a lead insurance policy.