Buffett stepped down as CEO of Berkshire Hathaway, retaining his position as Chairman of the Board. Since January 1, Berkshire has been led by Greg Abel, who isn't hesitant to spend the cash reserves accumulated by Buffett – during Q2, the cash pile dropped from $397.4 billion to $365.5 billion.
The last time Buffett was a net buyer of stocks was 3.5 years ago, right at the tail end of the 2022 correction; since then, the S&P 500 has gained 114%.
The question is: did Berkshire Hathaway change its market strategy after the CEO handover, or has the market itself shifted to where waiting for better prices no longer makes sense? 🤑