Investment giant Berkshire Hathaway is currently holding a historic $277 billion in cash amid economic uncertainties.
The firm, led by Warren Buffett, reported net stock sales of $75.5 billion in the second quarter, pushing its total stock sales in 2024 past $90 billion.
Notably, Berkshire significantly reduced its Apple holdings by nearly half during this period.
In recent moves, Berkshire also cut its stake in Bank of America, selling $769 million worth of shares over 12 days.
At the May annual meeting, Buffett discussed the firm’s cash reserves and market conditions, emphasizing a cautious investment approach: “We’re ready to invest, but only in opportunities that offer minimal risk and high returns. It’s not a matter of urgency, but of finding the right prospects.”
Berkshire’s operating earnings for the second quarter rose to $11.6 billion, compared to $10 billion the previous year.
In a bold move to reshape the future of ApeCoin, Yuga Labs has introduced a proposal that would dissolve the existing ApeCoin DAO and replace it with a streamlined management body called ApeCo.
Circle’s arrival on the New York Stock Exchange sent shockwaves through the market, and Cathie Wood’s ARK Invest wasted no time jumping in.
WazirX’s bid to restructure and compensate victims of a $230 million hack has been rejected by the Singapore High Court, putting the exchange’s recovery roadmap in limbo.
Fundstrat’s Tom Lee believes that lingering caution in the stock market could actually be setting the stage for another bullish breakout.