Billionaire investor Mark Cuban says he’s following in the footsteps of Warren Buffett in the midst of a war of geopolitical tensions.
In a new interview with Big Short investor Steve Eisman, Cuban says he’s selling assets and prefers to stay on the sidelines for now, despite believing the stock market will continue to move higher.
According to Cuban, there’s no telling what could go wrong as the war in the Middle East enters its third week.
“I’m really concerned. I’m more in cash. I’m more in the Warren Buffett category, where when the shit hits the fan, and the current goes out, you get to see who’s naked. That’s when I’ve always made the most money, by being patient….
But now there’s so much money and so much advanced technology that it’s hard to differentiate. You’ve seen active trading accounts not do as well as passive, but it all comes down to supply and demand. And as long as there’s a supply of money from pensions and retirement funds, et cetera, I think stocks will go up… Generally, I think the bias is to go up, but I’m concerned right now because just with the geopolitics of everything, it’s 100% uncertainty now. I don’t care how good a tactician you are, strategist you are, when it comes to war or geopolitics, nobody can predict everything that’s going to happen, and that scares me, and I’ve actually pulled back some.”
Data shows that Warren Buffett left Berkshire Hathaway with a $373 billion cash stockpile by the end of 2025, before stepping down as the company’s CEO.
Cuban notes that his strategy of timing the market by being patient paid off during the 2008 Global Financial Crisis and the COVID pandemic.
“Maybe I’ll miss some of the upswing. I don’t care because if it does hit the fan, like in the Great Financial Crisis. When I saw the subprime stuff happening, I went mostly in cash, and I killed it when COVID hit. I went all in when all the stocks dropped… I can be patient.
And I think it was Charlie Munger who said the best approach is delayed gratification. If you can delay your gratification and not get the gamble bug when it comes to trading stocks, and that’s hard, because it’s fun to trade and it’s fun to get involved and it’s exciting and it’s competitive, but if you can delay that gratification, something unfortunate does happen, if you’re the one with cash, you’re the one that makes the money.”
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