Warren Buffett, CEO of Berkshire Hathaway (Johannes Eisele/Getty)

$325B for BRK.A

Buffett’s Berkshire Hathaway has enough cash to theoretically buy every NFL team

The oracle of Omaha has been selling stocks over the summer, and the company’s coffers are fuller than ever.

11/4/24 7:47AM

Iconic investor Warren Buffett and his loyal lieutenants have been busy over the warmer months, having sold $36 billion worth of stock holdings in Q3, taking the Omaha-based company’s cash pile north of $325 billion — its highest on record. The company’s stake in Apple was downsized significantly, with filings implying that Buffett and co. offloaded roughly one-quarter of the company’s stake in the iPhone maker, the fourth quarter in a row that Berkshire has trimmed its holdings in Apple.

Why is Berkshire selling so heavily? We wouldn’t presume to know exactly what the world’s preeminent investor is thinking, but there’s a saying: “Don’t listen to what people say; watch what they do.” In this case, by holding more than $325 billion in cash and cash equivalents, Buffett and co. are signaling something along the lines of: we don’t think there are a lot of compelling places to invest right now. And with that much money, not many opportunities are out of reach — there are only a few dozen companies in the US that the group couldn’t acquire outright.

Berkshire Hathaway cash pile chart — Sherwood News

For context on just how much cash it is, the world’s richest person spent “just” $44 billion acquiring Twitter in 2022, Starbucks’ market cap is about one-third of the cash pile, and buying America’s largest news organization wouldn’t take more than ~3% of the company’s hoard. It’s also enough to buy every single one of the 32 teams in the NFL at a 50% premium to their current valuation (which are collectively valued at ~$208 billion, per CNBC).

Is Berkshire Hathaway, like Goldman Sachs researchers, bearish on the future of stocks? Well, when choosing between owning shares in the world’s largest company and parking the cash in US treasuries, the world’s most famous investor is opting for the latter... for now.

Tasha Matsumoto, Matt Phillips

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The S&P 500, Nasdaq 100, and Russell 2000 close at record highs again as Strait of Hormuz is declared open

Stocks reached new record highs as risk-on sentiment flooded back into the markets, while oil tumbled.

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With their recent surge, Intel shares just hit their highest level since the dot-com era

Intel’s surge of nearly 60% this month has the iconic American chipmaker’s stock price approaching levels last seen during the dot-com era. Bloomberg noted that shares just touched their highest intraday level since the turn of the century:

“The stock rose as much as 1.5% to $69.55, topping a peak it hit on Jan. 24, 2020. The shares are up 90% this year, after soaring 84% in 2025. Intel is now roughly 8% from its all-time closing high of $74.88, established on Aug. 31, 2000.”

That’s just the most recent late-’90s-era throwback we’ve been seeing in tech shares lately. Oracle is currently pacing for its best week since late 1999.

What’s even more remarkable, however, is that Intel’s forward price-to-earnings ratio today dwarfs the premiums the market was putting on the stock during the nuttiness of the dot-com mania.

That reflects the fact that the recent run-up in Intel shares is, essentially, giving the chip giant credit for a massive turnaround that hasn’t actually happened yet.

One also might wonder if the fact that Intel is partially owned by the US government means it’s more attractive — and therefore worth a higher premium — than other chipmakers without the state imprimatur.

Still, kind of startling.

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Netflix sinks following disappointing outlook as investors wait for more ad growth

Netflix shares are down more than 10% on Friday morning.

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Eli Lilly’s GLP-1 pill hit nearly 1,400 prescriptions in first week

Eli Lilly rose after preliminary numbers cited by Wall Street analysts showed strong uptake of its new weight-loss pill.

The FDA approved Foundayo on April 1 and shipments began on April 9. In its first week, roughly 1,400 US prescriptions were written for the drug, according to IQVIA data cited by Deustche Bank analysts in a Friday note.

Novo Nordisk, Lilly’s rival in the GLP-1 market, released its GLP-1 pill earlier this year, and early signs show that it’s expanding the market, inviting patients who were turned off by weekly injections. Novo’s pill had a stronger first week than Lilly’s, with its Wegovy pill hitting 3,071 US prescriptions in the first four days after its launch on January 5.

Lilly’s pill has an advantage over Novo’s, which is that it can be taken at any time of day, with or without food. Lilly disclosed in a February regulatory filing that it had $1.5 billion worth of prelaunch inventory ready ahead of the FDA approval — which is about as much as analysts polled by FactSet expect it to sell this year.

Eli Lilly makes the world’s bestselling drug. Can it keep the party going?

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Critical Metals jumps after Greenland’s government approves CRML to take majority control of the Tanbreez mining project

Critical Metals is up more than 25% in premarket trading on Friday after the critical mining company announced that it now owns 92.5% of the Tanbreez rare earth deposit following an approval from the government of Greenland.

With that latest government support, Critical Minerals added an additional 50.5% stake to its ownership, reportedly acquired from Rimbal Pty Ltd, per Bloomberg News. With access to eight heavy rare earth elements often used in consumer electronics and defense, the site is one of the world’s largest undeveloped rare earth deposits and a key source of rare earth supply outside of China, according to the company.

In Critical Metals’ press release, Chairman Tony Sage commented that the approval “removes the most significant structural overhang on the project and provides the clarity to advance Tanbreez to production with confidence,” especially as Tanbreez’s location offers a significant logistical advantage through its year-round direct shipping access, compared to rival projects.

With 92.5% of the project now vested in Critical Metals Corp., and the remainder owned by European Lithium Ltd., CRML now has full control of the project and is seeking to accelerate development there, with plans for a new international airport and a “150-tonne bulk sample program,” which is slated for June 2026.