US stock market is now the most OVERVALUED in 50+ years. Berkshire Hathaway is now underperforming the S&P 500 by the same margin it was during the run-up to the GFC

Shiller CAPE ratio sits at 38-41, second only to the 2000 dot-com peak while Berkshire Hathaway underperforms the S&P 500 by the exact margin it did heading into the 2008 GFC.

Buffett sits on a record $380 billion cash pile, selling into strength as the rest chase AI mania like 1999 tech.




Berkshire Hathaway is now underperforming the S&P 500 by the same margin it was during the run-up to the Global Financial Crisis
byu/RobertBartus inEconomyCharts

This is classic bubble territory: punish value, reward speculation, then watch the inevitable wipeout when reality hits.