"It is the highest seven-month total since 2009 when 50,258 cuts due to bankruptcy were announced."
Positive technical indicators and monetary easing now likely outweigh the uncertainty of the U.S.-China trade war and the “wild card” of tariff talks.
It’s probably safe to say that Buffett doesn’t love the lofty level of the stock market, judging by the record $122 billion of cash he’s hoarding.
He will surely try to stick to his public narrative, which has worked so well for so long. But a severe recession may be his undoing.