Buffett’s $382B Cash Position
Berkshire Hathaway now holds about $382B in cash and U.S. Treasuries.
That is the largest corporate cash pile in U.S. history.
Why?
His companies are generating strong profits.
But Buffett is not finding good deals at current prices.
He has been selling stocks for 8 straight quarters.
Apple was cut by about 75%.
Bank of America and others were trimmed.
Share buybacks slowed down.
Simple reason.
He thinks valuations are high.
He prefers cash over overpaying.
He has done this before.
Before the dot com crash.
Before 2008.
Before 2022.
He builds cash when markets are expensive.
He buys when fear creates discounts.
That $382B is not fear.
It is dry powder waiting for opportunity.