Buffett Steps Down, But Won’t Retire! Berkshire Keeps Buying $17 Billion in U.S. Treasuries This Week, and the Oracle Admits, “If the Market Drops 50%, That’s When I’ll Be Excited”

According to CNBC, Warren Buffett, the “Omaha Oracle” who is 95 years old, said in an interview Tuesday that although he will hand over the CEO role to his successor, Abel (Greg Abel), in early 2026, he is still deeply involved in Berkshire’s investment decision-making. He revealed that he has just completed a “tiny” new acquisition, and as market volatility continues, he went on another spending spree this week, investing $17 billion to buy U.S. Treasuries.
(Backgrounder: Buffett’s last positioning before retirement: Berkshire’s first buy of The New York Times, cutting back Apple and Amazon holdings by 70%)
(Background addition: A review of Buffett’s six key decisions during his 60 years at the helm of Berkshire, formally stepping down as CEO and retiring)

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• The “tiny buy” sparks speculation, aligning seamlessly with the new CEO
• Downplaying a market pullback: I’ve seen declines of 50% three times already
• A $370 billion cash mountain—buying U.S. Treasuries every week

Even at age 95, and with the formal handover of the CEO burden in early 2026, “the Oracle of Omaha” Warren Buffett’s sharpness about the market has not diminished. In an interview with Squawk Box on Tuesday (the 31st), Buffett confirmed that he still shows up at the office on time every day, fighting alongside his colleagues and always ready to make moves in the market.

The “tiny buy” sparks speculation, aligning seamlessly with the new CEO

In the interview, Buffett described his daily routine: before the opening bell for U.S. stocks each day, he calls Mark Millard, the chief of financial assets just 20 feet from his office, to discuss market developments and execute trades. This shows that even though Greg Abel is now running the company with executive authority, Buffett’s investment “soul” at Berkshire remains firmly in place.

“I’m not going to make any investment that Greg thinks is wrong… He gets an investment detail sheet every day.”

When asked whether he has made any new moves recently, Buffett mysteriously disclosed that he has just completed a “One tiny purchase”, but he did not specify what the target was. Market analysts speculate that this may be a defensive positioning for certain undervalued assets amid geopolitical volatility.

Downplaying a market pullback: I’ve seen declines of 50% three times already

Regarding the recent market volatility driven by concerns over the Middle East situation and inflation, Buffett has played it cool. He believes the current environment is still far from reaching the level of an exciting “once-in-a-big-bargain” opportunity.

“Since I took over Berkshire, the market has fallen more than 50% at least three times… This level of fluctuation is just not enough to get me excited,” Buffett said directly. These remarks once again underscore his philosophy of “be greedy when others are fearful”—it’s just that the level of fear right now still seems not to have reached his threshold for entering the market.

A $370 billion cash mountain—buying U.S. Treasuries every week

Rather than seeking new targets, Buffett is clearly more inclined at the moment to “collect interest.” He said that this week Berkshire bought $17 billion worth of U.S. Treasury bills (T-bills) at an auction again. Based on the company’s reports at the end of last year, Berkshire’s cash and cash equivalents have already surpassed $370 billion, with the vast majority allocated to short-maturity U.S. Treasuries.

In 2026, when the global financial environment is full of uncertainty, Buffett has chosen to hold a large amount of cash and uses a nearly 5% yield on Treasuries to generate steady cash flow. This epic cash mountain is undoubtedly Berkshire’s strongest stockpile of hunting ammunition for a future that may bring change in the markets.