Happy Monday. Despite no progress on Iran negotiations, the market notched new intraday highs before wiping out in the final hour of trading. The S&P 500, Nasdaq, and Dow posted middling gains, up a few basis points heading toward day end. Meanwhile, the Russell 2000 rose nearly 1%, heading towards a record close.
Berkshire Hathaway Co-Founder Warren Buffett might have stepped down from his 60 year tenure atop the conglomerate last year, but after 60 years in the business, he remains a vocal and outspoken fixture in the markets. His latest comments about the market, which came after the firm's annual meeting last week, have not been flattering. In fact, with Berkshire now sitting on a record $397 billion in cash, it feels more like a warning.
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