Over the last several weeks, companies have been reporting earnings for the first quarter of 2024. Considering both the S 500 and Nasdaq Composite are notching record highs, investors have been keen to assess the progress of the hottest themes in the market. Artificial intelligence (AI), new breakthrough medications in the pharmaceutical industry, and a red-hot energy sector are all fueling buying activity in the market.

It's easy to get lost among the euphoria and hoopla driving the market right now. However, I'd encourage investors to take a step back and look at what others on Wall Street are doing.

Warren Buffett's portfolio is often a good place to start. Since 1965, Buffett's Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) has returned 4,384,748%. At the end of the first quarter, Berkshire held $189 billion of cash and equivalents on its balance sheet. With so much capital at its disposal and ripe stock market conditions, where might Buffett be looking for value?

Continue reading

Source Fool.com