Is increasing cash in portfolios sensible right now?

Possibly the best investor of our generation has been building cash for the past 4 years

At 95 , Warren Buffet’s Berkshire Hathaway now manages over $1T, and over 1/3 of that is cash, up from 10% in 2022. Mr. Buffet thinks equities are too expensive and he wants to have cash to buy the lows.

The last few weeks have seen Financial markets across the globe retreat into ‘correction’ territory (-10%), but safe assets such as Gilts or Treasuries and gold and silver have also retreated substantially , leaving investors to disregard traditional wisdom.

With only 20 days worth of reduced oil production being made available from the IAE strategic reserves, so long as the straits of Hormoz are closed, oil prices can only go in one direction and we are reminded of how that panned out in 1973.

Warren sold his first company when he was 14, a pinball repair and rental business, he’s now worth over $100b, he is holding a lot of cash, it doesn’t sound such a bad idea.