Warren Buffett’s Berkshire Hathaway Just Did This for the First Time in 15 Quarters. History Offers a Clue About What’s Next, But the Evidence Piling Up Suggests History May Not Repeat Itself.

Berkshire Hathaway became a net buyer of stocks for the first time in 15 quarters during Q2 2026, purchasing nearly $20 billion including a significant boost to its Alphabet position. While history suggests this could precede a market rally similar to 2022, current evidence points otherwise—stocks are now at near dot-com bubble valuations, and economic headwinds from tariffs and geopolitical tensions create uncertainty, suggesting a potential market pullback ahead.