"When the market finally goes on sale, and guys, it will go on sale eventually, Buffett and Abel be the ones standing there with the fullest wallets on Earth, ready to buy great companies at fire sale prices while everyone else is panicking."

… And guys, it's not just this year. It's been going on for several years now. But here's the other side and the whole point. The $397 billion in cash is the biggest pile of dry powder in history. Dry powder just means the money that is sitting there ready and waiting to be used to the moment a real opportunity shows up. When the market finally goes on sale, and guys, it will go on sale eventually, Buffett and Abel be the ones standing there with the fullest wallets on Earth, ready to buy great companies at fire sale prices while everyone else is panicking. The cash is both a drag today and the most powerful option in the entire market for tomorrow. And this is not just a theory. They have done this before and it made them legends. Back in the '08 financial crisis, while the whole world was terrified and selling everything at any price, Buffett used his cash to make huge, now famous deals with compan …