The guy has been saying for years that his $128 bn warchest was to capitalize on good deals the next time they became available. But his latest move was selling a bunch of Southwest and Delta. It's interesting that the Oracle of Omaha seems to be fearful instead of greedy right now, at least so far.

You'd think now would be the time for him to do what he did in the last downturn and buy something huge but undervalued. Or maybe he views the current correction as a return to accurate asset valuations and still doesn't see deals he likes.