Musk said Buffett is basically the Federal Reserve, and reducing stock holdings is foreseeing some kind of market adjustment
Warren Buffett's Berkshire Hathaway reported Q2 2024 earnings of $93.65 billion, exceeding expectations. The company also increased its cash reserves to $277 billion after selling $90 billion in stocks. Elon Musk commented on Buffett's strategic foresight, suggesting Buffett anticipates a market adjustment and praised his influence, likening it to that of the Federal Reserve.