Buffett: Stock valuations remain unappealing

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Warren Buffett says stock valuations remain unattractive.

Buffett stated that if the market drops significantly, Berkshire will use its cash reserves.

"I am still involved in Berkshire's investment decisions, and we have over $350 billion in cash. The market is not significantly cheap at the moment, and I will not step in just to earn a 5-6% index drop kind of return."

Buffett said that Apple remains Berkshire's largest single stock investment.

More updates to come...

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