Warren Buffett at Berkshire’s 2026 AGM talking about waiting to deploy its $397B cash pile: “I’ve compared the markets to the church with a casino attached. People can move between the church and the casino. The casino has gotten very attractive to people. If you’re buying one-day options, it’s not investing or speculating. It’s gambling. We’ve never had more people in a gambling mood…Prices for a lot of things look very silly.” Says Greg Abel and Berkshire are still always “a phone call away” from making a massive investment. “We’re big enough to handle anything. We make decisions faster than anybody. And our word if good.”