Warren Buffett Just Sent a $277 Billion Warning to Stock Investors
Warren Buffett is considered one of the greatest investors of all time, and he has the track record to prove it. He took Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) from a struggling textile business in the 1960s to a massive conglomerate worth $900 billion today by buying highly valuable businesses at a fair price. Since Buffett took over the company, Berkshire Hathaway's share value has grown at an average compound annual rate of 19.8%, well above the 10.2% returned by the S 500 over the same period.
Buffett is in charge of almost all of Berkshire's equity portfolio and managing the company's cash position. But last quarter was the biggest warning yet that Buffett doesn't see a lot to like in the current stock market. That's reflected in Berkshire's cash and Treasury bill position, which ballooned to $277 billion in the second quarter, up $88 billion from the previous quarter.
Here's how Berkshire got here, and what it means for investors.
Source Fool.com
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