On March 31, #巴菲特卸任后首访 2026, 95-year-old Warren Buffett gave his first interview to CNBC after stepping down as CEO of Berkshire Hathaway. This "Oracle of Omaha" may have passed the baton, but his thinking remains sharp, sending a clear signal to the market: the current stock market is far from an exciting moment to "buy the dip."
Market Judgment: Cash is King, Rejecting "Fake Drops"
In the face of a recent 5%-10% adjustment in the U.S. stock market, Buffett remained unusually calm, even somewhat "disappointed." In his view, this level of volatility is simply "not worth mentioning" compared to the three drops of over 50% he experienced during his career. There has not been a true mispricing in the market, and valuations still lack attractiveness.
Action Speaks Louder Than Words: Berkshire still has over $350 billion in cash and short-term government bonds, and recently even increased its purchases of U.S. Treasury bonds by about $17 billion. This unusual behavior of "stockpiling cash" means he is waiting for a "strike zone" with higher odds, rather than rushing to act during a mild pullback.
Investment Review: Admitting "Sold Apple Too Early"
When discussing core holdings, Buffett rarely expressed a "Versailles"-style regret. He admitted that during previous reductions, "Apple was sold too early," even though this investment has netted Berkshire over $100 billion. Currently, Apple remains its largest single holding, and he clearly stated that if the price falls back to a highly attractive range, he would consider buying in large amounts again, but certainly not at the current price level.
Passing the Baton: Retiring but Not Resting, Steering Behind the Scenes
Regarding retirement life, Buffett broke the external imagination of his "retirement." He still appears punctually at his Omaha office every day, discussing the market with trading chief Mark Millard before the market opens. Although he has handed over the CEO baton to Greg Abel, he emphasized that he is still involved in investments, and any decisions will be fully negotiated with Abel, "never making trades he believes are wrong." This state of "passing the baton without leaving the post" ensures the continuity of Berkshire's investment philosophy.
Macro and Charity: Restarting "Lunch," Caution Against Inflation
In the interview, Buffett also revealed two major pieces of news:
Restarting Charity Lunch: He will collaborate with NBA star Stephen Curry to restart the charity lunch auction, with proceeds donated to the Glide Foundation and Curry's philanthropic projects.
Market Judgment: Cash is King, Rejecting "Fake Drops"
In the face of a recent 5%-10% adjustment in the U.S. stock market, Buffett remained unusually calm, even somewhat "disappointed." In his view, this level of volatility is simply "not worth mentioning" compared to the three drops of over 50% he experienced during his career. There has not been a true mispricing in the market, and valuations still lack attractiveness.
Action Speaks Louder Than Words: Berkshire still has over $350 billion in cash and short-term government bonds, and recently even increased its purchases of U.S. Treasury bonds by about $17 billion. This unusual behavior of "stockpiling cash" means he is waiting for a "strike zone" with higher odds, rather than rushing to act during a mild pullback.
Investment Review: Admitting "Sold Apple Too Early"
When discussing core holdings, Buffett rarely expressed a "Versailles"-style regret. He admitted that during previous reductions, "Apple was sold too early," even though this investment has netted Berkshire over $100 billion. Currently, Apple remains its largest single holding, and he clearly stated that if the price falls back to a highly attractive range, he would consider buying in large amounts again, but certainly not at the current price level.
Passing the Baton: Retiring but Not Resting, Steering Behind the Scenes
Regarding retirement life, Buffett broke the external imagination of his "retirement." He still appears punctually at his Omaha office every day, discussing the market with trading chief Mark Millard before the market opens. Although he has handed over the CEO baton to Greg Abel, he emphasized that he is still involved in investments, and any decisions will be fully negotiated with Abel, "never making trades he believes are wrong." This state of "passing the baton without leaving the post" ensures the continuity of Berkshire's investment philosophy.
Macro and Charity: Restarting "Lunch," Caution Against Inflation
In the interview, Buffett also revealed two major pieces of news:
Restarting Charity Lunch: He will collaborate with NBA star Stephen Curry to restart the charity lunch auction, with proceeds donated to the Glide Foundation and Curry's philanthropic projects.