Buffett Is Still Calling the Shots at Berkshire, and His Market Warning Is Hard to Ignore

TLDR

• Warren Buffett, not Greg Abel, appears to still be making major stock investment decisions at Berkshire Hathaway
• Berkshire bought $10 billion in Alphabet shares in Q2, a deal Buffett reportedly initiated
• Alphabet is now the third-largest holding in Berkshire’s portfolio, narrowly ahead of Coca-Cola
• Buffett warned in May that investors are in a “gambling mood” and treating markets like a casino
• The S&P 500’s CAPE ratio hit 40.6 in July, the highest since the dot-com crash, historically followed by average losses of 30% over three years

Warren Buffett may have officially handed over the CEO role at Berkshire Hathaway to Greg Abel last December, but new evidence suggests he is still the one picking stocks.

Bloomberg News reported that Berkshire’s $10 billion purchase of Alphabet shares in the second quarter came after a weekend call from Goldman Sachs. Abel gave a quick sign-off, but according to Barron’s, it was Buffett who initiated the investment.

Buffett confirmed in a CNBC interview last month that he had personally “initiated” the Alphabet investment, which first appeared in Berkshire’s portfolio in the third quarter of last year.

… Continue reading the full article at the original source below.