#Economy & #Stocks Review - When the Market Celebrates, Berkshire Holds Cash

E&S Review

Much of today's economic data, including officially collected and produced time series, is highly unreliable. Statisticians use well-documented techniques such as geometric smoothing, seasonal adjustments, substitution, double counting, and hedonic adjustments to modify economic outcomes dating back to the 1980s. Politicians and central bankers often leverage these techniques for political gain.

Data manipulated by these statistical methods are frequently revised without clear notification to the public, especially when administrations or public policies change.

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When the Market Celebrates, Berkshire Holds Cash

Berkshire Hathaway trimmed its 13F portfolio from ~$274B to $263B in Q1 2026, reducing positions from 40 to 26. Top holdings—Apple, American Express, Coca-Cola, Bank of America, and Chevron—now comprise ~68% of the portfolio, with AAPL alone at ~22%. Significant activity included a 225% increase in Alphabet (GOOGL), large Chevron (CVX) reduction, and full exits from Amazon (AMZN), Domino’s (DPZ), and UnitedHealth (UNH). Berkshire repurchased $234M in shares at 144% of book value and continued building positions in Chubb (CB) and New York Times (NYT).

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The Matrix provides market-driven trend, cycles, and intermarket analysis.