Opinion: Warren Buffett, warning of ‘scoundrels’ and ‘fiscal folly,’ slashes his exposure to U.S. stocks - MarketWatch
1. Berkshire holds over half net assets in cash; caution replaces previous cheer. Buffett’s tone is less patriotic. 2. Record $345B in cash and Treasury bills now exceeds tradable U.S. stocks. This marks a stark change from last year. 3. Buffett warns against fiscal folly and opportunistic promoters. His message is more somber than his “Never bet against America” era. 4. Berkshire’s stake in five Japanese conglomerates is deemed good value. The long-term commitment contrasts high U.S. market valuations.