Core Viewpoint - As Warren Buffett prepares to step down, Berkshire Hathaway's cash reserves have reached a record high of $382 billion, reflecting a cautious investment strategy amid limited buying opportunities in the market [1][5]. Group 1: Cash Reserves and Investment Strategy - Berkshire Hathaway's cash reserves increased to $381.7 billion as of the third quarter, up by $37.6 billion from the previous quarter, averaging a cash accumulation of $420 million per day [1][3]. - The company has sold approximately $184 billion in stocks over the past three years, with a notable $6.1 billion in stock sales during the third quarter alone [3][6]. - The investment activity shows a consistent trend of selling outpacing buying for the 12th consecutive quarter, indicating a strategic shift towards cash accumulation [6][12]. Group 2: Market Sentiment and Stock Performance - Analysts suggest that Buffett perceives more selling opportunities than buying ones in the current market environment, which may explain the company's reluctance to repurchase its own shares since the second quarter of 2024 [3][11]. - Following Buffett's announcement of his impending retirement, Berkshire's Class A shares have declined by approximately 12%, contrasting with a 20% increase in the S&P 500 during the same period [9][12]. Group 3: Future Leadership and Challenges - Warren Buffett will officially step down as CEO by the end of the year, with Greg Abel set to take over, managing a vast empire with nearly 200 subsidiaries and $382 billion in cash [12]. - The effective deployment of this substantial cash reserve will be a primary challenge for Abel, especially in a market filled with uncertainties [12]. - Some investors express impatience for Berkshire to utilize its cash, while others remain optimistic about Abel's leadership capabilities [12].
三季度再卖61亿、连续5季度不回购、三年累计卖1840亿美元股票！巴菲特给伯克希尔留下的是：3820亿美元现金
Hua Er Jie Jian Wen·2025-11-02 01:40