Buffett’s Most Expensive Sideline in History

The 350 billion in new dollars is nice, and sure, I’m still a dollar believer. But the bigger picture is that the policy pullback everyone’s been pricing in just isn’t there.

Markets and big finance donors are so tightly levered to equities that policy now chases the market rather than leading it.

That feedback loop explains why the reset investors hoped for never materialized, and why deploying these fresh dollars might play out very differently than anyone expects.

This could go down as one of the largest opportunity-cost mistakes in modern investing history.

Sitting on that much cash through what could be an entire decade of market gains would mean Berkshire missed out on trillions in potential compounding.

The irony is it would still be framed as “discipline,” but markets would remember it as the moment Buffett’s caution finally cost more than it saved.