Buffett was perhaps prescient, as the 1970s then proved to be one of the worst decades ever in the stock market. Returns were essentially flat for the decade, even as earnings grew, as the price-to-earnings ratio of the market went from about 20 times earnings to just 7 times earnings. Yikes!

Warren Buffett is now sitting on more than $325 billion cash after continuing to unload billions of dollars worth of Apple and Bank of America shares this year and continuing to collect a steady strea

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