“股神”的行动和他的“指标”都正发出警告：美股有点危险！

Group 1 - The "Buffett Indicator," which measures the total value of publicly traded stocks in the U.S. against the country's GDP, has reached a historic high of 217%, raising concerns about market exuberance [1][2] - The S&P 500's price-to-sales ratio has also surged to a record high of 3.33, surpassing previous peaks during the 2000 internet bubble and the post-COVID boom [2] - Despite the high valuations, some analysts argue that the changing nature of the U.S. economy, driven more by technology and intellectual property rather than traditional asset-heavy industries, may justify higher stock valuations [2] Group 2 - Berkshire Hathaway, led by Warren Buffett, has built a significant cash reserve of $344.1 billion and has been a net seller of stocks for 11 consecutive quarters, indicating a cautious approach amid high valuations [2] - Buffett has not commented on the "Buffett Indicator" in recent years, but the current extreme level of the indicator, combined with Berkshire's cash position, draws attention [2]