These ominous signs point to a big risk lurking after the election. Berkshire sold another 25% or so of its Apple stock, bringing total year-to-date sales to 600 million shares, or around two-thirds of its stake since the beginning of the year ...

For the first time since 2018, Buffett’s company didn’t buy back any stock in the quarter, according to FactSet.

Berkshire was a net seller of $127 billion of stocks this year, bringing its equity portfolio down to $300 billion and nearly doubling its cash position to a record $311 billion.