Overview

• Berkshire Hathaway offloaded roughly $3.2 billion in Citigroup, Bank of America and other US bank holdings on July 18
• Buffett’s cash reserves have swelled to a record $350 billion, marking the largest war chest in the company’s history
• Analysts say the bank sell-off reflects expectations that current equity valuations are unsustainable as inflation reaches 2.7% and tariffs rise
• Major brokers such as Goldman Sachs and Citigroup report record trading revenues even as higher Treasury yields threaten loan portfolios and M&A activity
• JPMorgan’s Jamie Dimon and bond veteran Bill Gross have also shifted toward more defensive cash positions in recent months