In a development that will have Warren Buffett quietly muttering into his cherry Coke, the post-Oracle-of-Omaha era at Berkshire has officially arrived: new CEO Greg Abel spent a net $20 billion on equities in Q2, including — brace yourself — a $10 billion cheque to Alphabet to fund its AI ambitions, marking the exact moment Berkshire, the conglomerate that spent decades religiously avoiding tech and lecturing everyone about circle-of-competence, finally bought the AI hype right as the Magnificent 7 became the year's biggest laggard. Abel also handed $6.8 billion to homebuilder Taylor Morrison, added to Delta, Lennar, and — in a truly poetic touch — Macy's and the New York Times, while trimming Bank of America, Kroger, and Capital One, and exiting Constellation Brands entirely. The genuinely instructive detail, however, is buried beneath the shopping spree: even after spending $20 billion, Berkshire still sits on $365.5 billion in cash — down from a record $397 billion but still a mountain of dry powder.

🤵 The Macro Butler Weekly Digest 🤵

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