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I wonder how this plays given the fearful/greedy rule.

Buffett just sold for an enormous profit while the market was trending near all-time highs.

Selling near all time highs = being fearful while others are being greedy.

And he now has a hefty amount in cash, so if things go bad, he can buy Low again, and enjoy another rally to the previous highs.

If not, then he has enough cash to buy/support the next big thing.