Today, I'm continuing to analyze Buffett's recent moves. Why do we need to study this? Because the crypto can now be seen as a long-tail related market in the United States. Studying the crypto in isolation won't reveal the major trends; you must look to the US stock market, the source of those trends, for answers. And Warren Buffett, the mentor in the US market, is an inescapable trend indicator for me. Let's first look at Buffett's recent speeches. Holding 350 billion in cash: Berkshire Hathaway currently holds more than $350 billion in cash and short-term Treasury bills (T-bills). What is this percentage? It's approximately 35% of Berkshire Hathaway's total assets. But Berkshire also has a lot of unlisted cash cows like railroads and energy. If we exclude privately held companies and only consider publicly traded companies that are readily tradable, what percentage of their portfolio should be in cash? It's roughly 55%. What does this mean? This marks the first time in Buffett's history that his cash and cash equivalents have exceeded his stock holdings. In the same week as the interview, they bought another $17 billion in Treasury bonds. Buffett frankly stated: Hoarding such a massive amount of cash and its equivalents is not for a 5% return. At this moment, it is the most extreme operation in Buffett's history. Even Apple, which he favors the most and is known as the best company, is being reduced. How he views the market is self-evident. Is he really getting old? Why is there such a big difference between Buffett's strategy and the AI ​​players around him who All In, go all out, and aggressively charge in? It's time to eat, we'll talk about it tomorrow.