Warren Buffett is looking quite prescient as global equity markets plunged after it was revealed over the weekend that the investing legend dumped a lot in stock, including half of his Apple stake, and raised an unprecedented cash fortress for Berkshire Hathaway in the second quarter.
While Buffett, 93, famously never times the market and advises others to not try to either, these moves are serving as a wake-up call to some of his followers on Wall Street, who believe he saw some things he does not like about the economy and market valuation.
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