Warren Buffett's turn to cash indicates that now is not the best time for high equity exposure, David Einhorn wrote.

That conclusion is further supported by the fact that Berkshire had $277 billion in cash and U.S. Treasuries on its balance sheet as of the June quarter, another record for the company. Finally, Buffett repurchased a mere $345 million in Berkshire stock during the June quarter, which marks his smallest allocation to stock buybacks in six years.

In fact, Berkshire actually holds two S&P 500 index funds in its portfolio: the Vanguard S&P 500 ETF (NYSEMKT: VOO) and the SPDR S&P 500 ETF Trust (NYSEMKT: SPY). One top analyst on Wall Street predicts the S&P 500 will hit 15,000 by 2030, and if he's right, those index funds could deliver a return of 158% from here!

Jefferies has been on a tear since Berkshire bought in. Check out the closer look of JEF stock and read why I rate it as a Buy.

Berkshire Hathaway increased its stake after billionaire John Malone’s Liberty Media completed the deal to combine its tracking stock with the rest of the audio entertainment co

Warren Buffett’s growing cash position at Berkshire Hathaway is sending a clear message about his view of the current stock market. With nearly $300 billion in cash and Treasuries, Buffett appears to be cautious about investing opportunities.