When investing great Warren Buffett speaks, Wall Street wisely listens. Since ascending to the CEO chair at Berkshire Hathaway ( BRK.A) ( BRK.B 0.71%) in the mid-1960s, he's overseen an aggregate return in his company's Class A shares (BRK.A) of more than 5,580,000%, as of the closing bell on Nov. 7.

It is indeed interesting that Berkshire now holds $320 billion in cash vs just $272 billion in equity investments. Put another way, Buffett is holding more cash than stocks. "That’s a lot of firepower if markets see a sustained drop," notes Colas. "While Berkshire is not especially expensive, its multiple may be worrisome to a value investor ."

Warren Buffett is now sitting on more than $325 billion cash after continuing to unload billions of dollars worth of Apple and Bank of America shares this year and continuing to collect a steady strea