The old man ( Buffett!) has finally put some cash to work.
And he didn’t buy Nvidia.
After building a cash pile north of $300 billion and spending years telling investors, through his actions rather than his words, that markets were expensive, Warren Buffett appears willing to commit roughly $7-8 billion to Taylor Morrison at $72.50 per share, a hefty premium to a stock trading on around 8-9x earnings. The market is obsessed with AI, crowded into a handful of mega-cap technology names and paying extraordinary multiples for future promises. Buffett just reached for a company that builds houses in a country that remains millions of homes short. Nutstuff keeps coming back to the same thought: everyone is staring vertically up the AI stack, whilst Buffett is looking horizontally across the real economy. Houses, power, infrastructure, energy and all the physical things that civilisation still requires. Reality leaks physically before it leaks financially. The most important trade in the market may not be AI itself, but everything AI and human beings depend upon. Buffett’s cheque suggests he may agree.
2May 31, 2026 196 1
