Core Viewpoint - Warren Buffett's Berkshire Hathaway has initiated a risk-averse strategy amid external market pressures, significantly reducing its holdings in Apple and Bank of America while increasing its stake in Swiss Re [1] Group 1: Investment Actions - Berkshire Hathaway has substantially reduced its Apple holdings from 300 million shares to 238.2 million shares, selling nearly three-quarters of its original 905 million shares [1] - The company has increased its investment in Swiss Re, indicating a shift in focus towards insurance [1] - Berkshire's cash reserves have reached a record high of $381.7 billion, reflecting a cautious approach in the current market environment [1] Group 2: Market Context - Despite a tech-driven bull market in the U.S. stock market, Berkshire Hathaway has net sold stocks for 12 consecutive quarters [1] - Apple remains the largest holding for Berkshire, valued at approximately $60.7 billion as of the end of September [1]

Group 1 - The recent fluctuations in commodity prices, including oil, gold, and copper, are primarily influenced by the Federal Reserve's monetary policy and economic outlook [1][3]. - Oil prices experienced a three-day increase followed by a sudden drop due to concerns over a weakening labor market and rising inventory levels, despite a decrease in crude oil stocks [3][4]. - Gold prices surged to a new high of $3,707 per ounce after the Fed's rate cut announcement but fell back due to a stronger dollar and a more cautious tone from Fed Chair Powell regarding long-term rate cuts [4][5]. Group 2 - The decline in copper and other base metals was seen as a precautionary measure ahead of the Fed's decision, with traders taking profits after a significant price increase since April [4][5]. - The overall pullback in commodities is viewed as a "digesting of expectations," where previous gains from anticipated Fed actions are being corrected, rather than indicating a trend reversal [5]. - For long-term investors, current price corrections in commodities like gold and copper may present buying opportunities as the underlying demand and monetary policy remain supportive [5].