Warren Buffett hasn't found a lot to like in the stock market recently. In fact, Berkshire Hathaway ( BRK.A +0.57% ) ( BRK.B +0.39% ) has been a net seller of stocks for 12 straight quarters. Through the first nine months of 2025, Buffett and his team of investment managers sold over $24 billion worth of equities. As a result, the company has seen its cash position climb to unprecedented levels, reaching $354 billion as of the end of the third quarter.

Buffett's selling is indicative of his belief that most of the stock market is currently overvalued . The case has grown stronger and stronger each quarter as many stocks have seen their share prices climb faster than their underlying financial results. With broad market valuations climbing toward all-time highs, based on

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