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Warren Buffett saw the selloff coming and hoarded cash, analyst says, as markets await his next move — ‘patience is more than a virtue, it’s a weapon’

- After Warren Buffett sold $134 billion in equities in 2024 and is sitting on a $334 billion cash pile, one analyst said the “Oracle of Omaha” saw the current selloff coming. While it’s unlikely Buffett will make any big moves during the current market turmoil, some think he’ll look internationally or round out his insurance business.
Amid the stock market selloff, Berkshire Hathaway CEO Warren Buffett’s recent capital movements suggest he was preparing for it, according to an analyst.
After tumbling more than 10% from its last peak, the Nasdaq remains in correction territory. The S&P 500 also entered a correction, though Friday’s rally pared its decline to less than 10% from its all-time record.
That has highlighted Berkshire’s recent cash hoarding as especially prescient. When asked if Buffett saw the selloff coming, Armando Gonzalez, founder of AI-powered research platform Bigdata.com, said the evidence suggests he did.
“Buffett’s actions over the past year have been a textbook example of positioning for turbulence,” he said in an emailed response to questions from Fortune.
Berkshire sold $134 billion in equities in 2024, ending the year with a cash pile of $334.2 billion—nearly double from a year ago and more than its shrinking stock portfolio of $272 billion.
Gonzalez also noted that Buffett’s recent comments have been riddled with caution, emphasizing inflationary concerns and geopolitical uncertainty. For example, he warned that President Donald Trump’s tariffs will cause prices to rise.
“History shows when Buffett turns net seller, he often anticipates a period of subpar market performance,” Gonzalez said. “And once again, the Oracle of Omaha seems to have been ahead of the curve.”
With stocks well off their highs, that begs the question: will the famously value-conscious Buffett start deploying his cash by making some big purchases?
To be sure, Berkshire has made some moderate stock buys. But preferring bargains, Buffett historically looks to invest heavily in companies when valuations are low. During the peak of the 2008 financial crisis, for instance, Buffett deployed $3 billion into General Electric whose stock price had nosedived.
In his latest letter to Berkshire shareholders, Buffett reiterated his years-long view that valuations remained high.
Gonzalez said it’s possible Buffett could start buying but only if true bargains emerge, noting that his track record shows a deep aversion to haste, even when markets tumble.
“He has no interest in timing the market’s bottom, nor does he chase short-term rebounds,” he said. “Instead, he waits for moments when fear drives prices to levels where the risk-reward equation tilts decisively in his favor.”
If Buffett should choose to finally make a big purchase, Gonzalez expects his next move to be used with a scalpel rather than a “broad-market splash,” if any at all.
“In Buffett’s world, patience is more than a virtue, it’s a weapon,” he added.
While it’s uncertain if Buffett will go forward with a deal during the current market selloff, CFRA Research’s Cathy Seifert told Fortune she wouldn’t be surprised if Berkshire rounded out its insurance holdings.
She added that valuations are still not dirt cheap, while the cash Buffett has parked in Treasury bonds is yielding him a good return and the competitive environment for deals has changed.
Additionally, Buffett has shown keen interest in Japanese trading companies, suggesting “a growing appetite for international diversification,” Gonzalez said.
Since 2019, Berkshire has invested in the five biggest Japanese “sogo shosha,” which invest across sectors domestically and abroad. The trading houses—Itochu, Marubeni, Mitsubishi, Mitsui, and Sumitomo—operate “in a manner somewhat similar to Berkshire itself,” Buffett wrote in his annual letter.
While Buffett sits on his pile of cash, his deployable funds may grow even more as rumors of a rare Berkshire sale circle.
The Wall Street Journal reported that real-estate brokerage Compass was in advanced talks to acquire Berkshire Hathaway’s HomeServices of America.
According to Berkshire’s annual report, HomeServices has 820 brokerage offices and 270 franchisees in 2024.
Berkshire Hathaway did not return Fortune’s request for comment.
This story was originally featured on Fortune.com
Tech News
In wake of tragedies, BofA tasks senior execs with overseeing junior banker workload

Bank of America, which has come under scrutiny for its treatment of junior bankers, is changing who is overseeing the workloads of its young executives. The bank is now having senior bankers—those who hold a title of director or above—monitor the nature and volume of assignments piled on lower level staff who, in an industry famous for grueling hours, often work well into the night to complete deals.
Bank of America’s efforts come after a series of tragedies involving young people that have shaken the investment banking sector. In January, Carter Anthony McIntosh, a 28-year-old investment banking associate at Jefferies, passed away from a suspected drug overdose. McIntoch was working as much as 100 hours a week, the New York Post reported. Leo Lukenas, a BofA junior banker, died in May from a blood clot. Lukenas had worked 100-plus hour weeks before his passing. BofA in 2014 instituted policies to limit young banker hours, the junior execs were often pressured into lying about their workloads, the WSJ has reported.
To carry out its oversight program, BofA has long relied on what it calls a chief resource officer model. Under this model, BofA used mid-level executives, on one-year rotations, to allocate work to junior investment bankers, according to the Wall Street Journal.
BofA has opted to shake up the model as it seeks to build the next generation of leaders, a person familiar with the situation said. The investment bank will now rely on senior bankers, working in permanent, full-time positions across sectors and regions, who will supervise young banker development as their CROs.
Bank of America is picking volunteers or assigning the role to the senior bankers, who are no longer dealmakers, the person said. BofA is seeking executives who have a very strong leadership quality, have managed teams and feel strongly about the evolution of junior bankers, they said.
“We want all of our junior bankers to have the best experience possible, learning from the teammates they work with and further benefiting from the career growth and development this role brings,” according to a BofA statement.
BofA Securities, the investment banking division of Bank of America, employs thousands of bankers. It’s unclear how many are junior bankers. Young executives typically spend several years as a junior banker, including two as an analyst and two to three years as an associate, before they move up to vice president. At that point they usually work on a sector team, like consumer or technology or industrials.
BofA also cut roughly 150 junior investment banking roles, the person. The majority of people that were reduced were “mapped to new roles” outside of investment banking like financial analysis or strategic planning, the person said. “They were given the opportunity to move somewhere else,” they said.
This story was originally featured on Fortune.com
Tech News
Four teens charged for alleged pistol-whipping, attempted Bitcoin robbery of OnlyFans influencer

Four teenagers in Houston, Texas, were charged Thursday for assaulting and trying to steal Bitcoin and Ethereum from an OnlyFans influencer in early March. Kaitlyn Siragusa, known online as “Amouranth,” was sleeping in her home in northwest Houston when three men broke into her room and demanded cryptocurrency, reported FOX 26. Siragusa had previously posted on social media a screenshot of her more than $20 million in cryptocurrency balances, according to the New York Post.
The three men allegedly pistol-whipped the OnlyFans influencer three times before Siragusa’s husband fired shots at the suspects, who then fled Siragusa’s home, according to FOX. The Harris County District Clerk’s Office identified the three men on Friday as Demarcus Morris Jr., 17; Dylan Nesho Campbell, 18; and Bryan Anthony Salazar Guerrero, 19. Officials also identified a 16-year-old as a suspect.
“They brought duct tape and masks and were armed with handguns,” Siragusa posted on X.
The assault and attempted robbery is just one of a series of recent attacks on individuals with known crypto holdings.
In late January, French police leapt into action after a group of criminals kidnapped David Balland, cofounder of the crypto hardware developer Ledger, and his wife, demanding a ransom in Bitcoin. French authorities, however, tracked down the kidnappers and rescued the couple. Balland’s wife was found unharmed but the Ledger cofounder had his finger severed in the ordeal. The Paris prosecutor’s office said that police had arrested 10 individuals alleged to be part of the kidnapping.
And in February, six men were accused in a Federal Bureau of Investigation affidavit of kidnapping three family members and a nanny from a Chicago townhouse, according to the Chicago Tribune. The criminals released the victims after they forced the family to hand over more than $15 million in cryptocurrency.
Crypto executives and wealthy crypto owners are taking notice. Some are hiring bodyguards to protect themselves from would-be attackers, according to WIRED. And others are buying up “wrench-attack” insurance, or policies designed to insure individuals if they’re the victims of a physical-force crypto robbery.
“In general the best things Bitcoiners can do to stay safe is to remain private,” Jameson Lopp, a famous early Bitcoiner, told Fortune. “The goal should be to avoid becoming a target,” he said. “Don’t go around telling anyone about your Bitcoin holdings. Don’t flaunt your wealth online or in meatspace. Don’t engage in risk activities such as high-value face-to-face trades.”
This story was originally featured on Fortune.com
Tech News
A French politician wants the U.S. to return the Statue of Liberty after 140 years. But it can’t actually do that

Hey, America: Give the Statue of Liberty back to France.
So says a French politician who is making headlines in his country for suggesting that the U.S. is no longer worthy of the monument that was a gift from France nearly 140 years ago.
As a member of the European Parliament and co-president of a small left-wing party in France, Raphaël Glucksmann cannot claim to speak for all of his compatriots.
But his assertion in a speech this weekend that some Americans “have chosen to switch to the side of the tyrants” reflects the broad shockwaves that U.S. President Donald Trump’s seismic shifts in foreign and domestic policy are triggering in France and elsewhere in Europe.
“Give us back the Statue of Liberty,” Glucksmann said, speaking Sunday to supporters of his Public Place party, who applauded and whistled.
“It was our gift to you. But apparently you despise her. So she will be happy here with us,” Glucksmann said.
The White House brushed back on the comments Monday, saying France instead should still be “grateful” for U.S. support during World War I and World War II.
Can France claim it back?
Dream on.
UNESCO, the United Nations’ cultural arm that has the statue on its list of World Heritage treasures, notes that the iconic monument is U.S. government property.
It was initially envisaged as a monumental gesture of French-American friendship to mark the 100th anniversary of the July 4, 1776, Declaration of Independence.
But a war that erupted in 1870 between France and German states led by Prussia diverted the energies of the monument’s designer, French sculptor Frédéric-Auguste Bartholdi.
The gift also took time to be funded, with a decision taken that the French would pay for the statue and Americans would cover the costs of its pedestal.
Transported in 350 pieces from France, the statue was officially unveiled Oct. 28, 1886.
Is France’s government offering asylum to Lady Liberty?
No. French-U.S. relations would have to drop off a cliff before Glucksmann found support from French President Emmanuel Macron’s government.
For the moment, the French president is treading a fine line — trying to work with Trump and temper some of his policy shifts on the one hand but also pushing back hard against some White House decisions, notably Trump’s tariff hikes.
Macron has let his prime minister, François Bayrou, play the role of being a more critical voice. Bayrou tore into the “brutality” that was shown to Ukrainian President Volodymyr Zelenskyy during his White House visit and suggested that Trump’s administration risked handing victory to Russia when it paused military aid to Ukraine.
Glucksmann’s party has been even more critical, posting accusations on its website that Trump is wielding power in an “authoritarian” manner and is “preparing to deliver Ukraine on a silver platter” to Russia.
In his speech, Glucksmann referenced New York poet Emma Lazarus’ words about the statue, the “mighty woman with a torch” who promised a home for the “huddled masses yearning to breathe free.”
“Today, this land is ceasing to be what it was,” Glucksmann said.
What is the White House saying?
White House press secretary Karoline Leavitt was asked Monday about Glucksmann’s comments, and responded that the U.S. would “absolutely not” be parting with the iconic statue.
“My advice to that unnamed low-level French politician would be to remind them that it’s only because of the United States of America that the French are not speaking German right now,” Leavitt said, apparently referencing the U.S. fight with allied powers to free France from Nazi occupation in World War II and alongside France during World War I. “They should be very grateful.”
But the debt of gratitude runs both ways. Leavitt skipped past France’s key role in supporting the future United States during its war for independence from the United Kingdom.
Leavitt is one of three administration officials who face a lawsuit from The Associated Press on First- and Fifth-Amendment grounds. The AP says the three are punishing the news agency for editorial decisions they oppose. The White House says the AP is not following an executive order to refer to the Gulf of Mexico as the Gulf of America.
This story was originally featured on Fortune.com
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