Warren Buffett's cash fortress Berkshire closes gap with S&P 500 as AI worries depress Wall Street

1. Berkshire's stock outperformed the S&P 500 by 4.3 percentage points since October 29. 2. Operating profits surged 34% to $13.5 billion in Q3, driven by insurance income. 3. Buffett does not consider Berkshire shares undervalued; no buybacks occurred. 4. Cash reserves grew to $381.7 billion, indicating strong liquidity. 5. Upcoming announcements may signal Buffett's final messages before CEO transition.