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)
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.
Remember those pesky toxic derivatives from 2008?
Well, they never actually went away, were papered over and are now in the tens of trillions. Largest holders of this steaming shytbag? Goldman Sachs, Chase, BofA.
Trillions.
With a “T.”
I had read that he placed the bulk of it into Treasuries.
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.
I’m guessing Buffet plays for the other team.
Short the dollar, buy gold, silver, and a lead insurance policy.
My guess would be he is into some foreign currencies as well. Also don’t forget the big stock market crash before WWII was manufactured and the big wealth names went long on cash before that crash and then bought all sorts of assets at pennies on the dollar after the crash -- including stocks.
Khun-Tosi will be at the head of that line, snapping up the distressed equities, likely having a week or so head start.
Land, lead, leather, lumber/timber, wheat and rice, water, whiskey and hand tools. And German Shepherd Dogs. Best places to put cash.
I doubt he is holding actual “cash”…as in green ink pieces of paper. Which begs the question where is all this “value” he has being held. Gold? Bullets? Food? And if it’s actually in tangible form where is it and how is he protecting it. The reality is that when you get to Buffet’s level of wealth “money” is no longer a tangible thing. It’s an ethereal, sometimes digital thing that can be created at will or on desire or disappear just as fast. The worlds economy functions mostly on make believe and faith. When that faith and belief evaporates so does the economy.
Fire Sales. WW3. The Mars Colony. A Revolutionary Innovation. A New Country.
Buffett is an old school fundamentals investor. Who is in the best position to benefit from a hard asset crash? People with cash. He could also fund WW3 or Elons mission to Mars. He could buy into something new and revolutionary. Or he could buy a small country. Don’t you just love speculation.