[bryanlarsen]

BRK is 40% cash at the moment. I think "roughly flat" is evidence they're performing the strategy the OP wanted.

BRK has stated that they'll buy back in when prices are reasonable again, so it's an automatic "sell-high buy-low" strategy.

[red-iron-pine]

buffet may be holding his breath for some time

markets...irrational... longer than you stay solvent, etc.

[bryanlarsen]

Greg Abel has mostly replaced Buffet. Neither really care about the market as a whole. They're willing to buy any reasonably priced security with a promising future regardless of where the rest of the market is at. It's just that there are usually more of these available when the market is down.