(NEW YORK, 7th) The cash held by Berkshire Hathaway (Berkshire Hathaway), a subsidiary of stock god Warren Buffett (Warren Buffett), hit an unprecedented record of 189 billion US dollars (about RM893 billion). Bill Smead (Bill Smead), chief investor at asset management company Smead (Bill Smead), pointed out that Buffett is hoarding cash, which shows that he is bearish on the stock market.
White Sands sold 13% of Apple (Apple) shares in the first quarter, but Buffett promised at the White Sands Shareholders' Meeting on the 4th that Apple is a “better company” than American Express (American Express) and Coca-Cola (Coca-Cola). Apple “is very likely” to remain the company's largest stock before the end of the year.
Meanwhile, after Baisha reduced its Apple holdings last quarter, Baisha achieved an operating profit of 11.2 billion US dollars (about RM52.9 billion) after tax, and the cash level also rose to a record high of 189 billion US dollars, which is more than six times the 30 billion US dollar (about RM141.7 billion) cash buffer that Buffett promised to maintain.
Smid said that unless Buffett has a chance to buy the entire company or there is a 30% or more decline in major markets, he is unlikely to use these funds.
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