Stock prices are very high and, clearly, Warren Buffett is not a practitioner of the “greater fool theory,” which have made many a trader short-term rich and long-term poor.  Our long-term money and view (until the market breaks) is with Warren, the 4th richest person in the world with estimated wealth of $85 billion.

Yet, the idjits have the gall to mock this man for holding so much cash.  Nothing new, we have seen this picture before in the bubbles of Christmas past.

Investor Warren Buffett took a pasting for ignoring the 1999 surge in dot.com stocks. Now he is enjoying the last laugh, as BBC News Online North America business reporter David Schepp explains.  – BBC, March 2001

Have they not heard or understand his simple investment philosophy that has made him billions?

When “market geniuses, ” who retrofit their analysis to price action, start trashing Buffett for lagging in this silly Tweet driven, Fed induced MoMo market it is usually a signal a big bubble is about to burst.

Patience, comrades.  Traders prepare to pounce.