Bloomberg

Buffett steers clear of buying stocks; Berkshire's cash pile hits a record

Warren Buffett, Chairman and CEO of Berkshire Hathaway, speaks during a game of bridge following the annual Berkshire Hathaway shareholders meeting in Omaha, Neb., Sunday, May 5, 2019. Foto: AP Photo/Nati Harnik

Warren Buffett's distaste for overpaying is winning out over his frustration with sitting on a lot of cash.

With stocks at record highs, Berkshire Hathaway Inc. sold $1 billion more worth of stocks than it bought last quarter, its biggest net selling since the end of 2017. Buffett spent last year building a massive stake in Apple Inc. and pouring billions into investments in the biggest U.S. banks. This year's rally hasn't drawn him in...

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