Instead, the “Oracle of Omaha” has become a “committed” and “long-term” investor in a handful of Japanese companies.

The mystery over Warren Buffett’s surprisingly defensive stance deepened over the weekend. The 94-year-old CEO of Berkshire Hathaway sold more stocks in the latest quarter and grew a record cash pile even larger to $334 billion,

Warren Buffett, in his annual letter to shareholders, defends Berkshire’s cash pile but says the company will always prefer equities when they’re attractive.