Warren Buffett told CNBC that Berkshire Hathaway is holding a cash reserve exceeding $370 billion. The company is maintaining this position in anticipation of a significant market downturn.
Buffett characterized recent market turbulence as insignificant and stated the market is currently overvalued. Berkshire Hathaway has become a net seller of stocks to avoid investments with low potential returns.
The firm is aggressively purchasing short-term U.S. Treasury bills while waiting for generational buying opportunities. This strategy reinforces Wall Street concerns regarding high market valuations.