I don't want to annoy anybody with another post about Saul, but even for traditional Berkshire shareholders it's worthwhile to read this VERY DIFFERENT THAN USUAL piece he wrote just a few hours ago:

discussion.fool.com - Where i ve been and where i m going

Some excerpts, so that you can judge for yourself whether it's worthwhile for you to read it:

- I was wrong! But I have pivoted more recently.

- The smart thing to have done was to have taken a lot of the cash out and left the rest in to keep growing. I took some out, but I wish I had taken out more. I was slow to react to the accumulation of factors which piled up on our companies.

- The proportion of my total funds that is in stocks is getting smaller and smaller..... if I add in funds that I have in cash or equivalents elsewhere than with my broker, about 47.2% of the total is in cash or equivalent

- I plan start lending much more of my attention to PE, EPS, FCF, etc.

It's also interesting that someone who did show over many years amazing stock picking skills and instinct for the market is of the opinion "I realize that we are probably close to the bottom, and this isn't such a good time to be in cash" and nevertheless says "but who cares, I have enough of both, and if the investment part goes up it's just gravy." which is exactly my philosophy nowadays, kind of "If you have enough (nearly) the only way to go bankrupt is to be greedy".

I am baffled, and will definitely continue to follow that board, curious about the responses. Unfortunately because of the censoring eventual furious replies will be deleted, so it won't be a true reflection of what Saul's followers might think.

But I am also curious about the future developments, as I am still of the opinion that many highly intelligent and analytical people are on that board, just sometimes a bit naive (typical IT, same as me).