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

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 ...

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.