$BRK.B Is Sitting on $397B in Cash and Warren Buffett Says 'Not Yet' — That's Actually Bullish

Three tickers are dominating the social finance conversation right now: $BRK.B, $XOM/$CVX, and the ghost of $SAVE. Berkshire held its first annual meeting under new CEO Greg Abel, posting 18% YoY operating earnings growth and a record $397 billion cash pile — while Buffett told CNBC the market is basically a 'church with a casino attached.' YouTube finance is obsessed, Reddit is cautiously bullish, and X is arguing about whether Abel is the real deal or just Buffett's very competent house-sitter.

Meanwhile, Andrei Jikh flagged the most alarming oil stat you'll hear this week: the spread between Brent futures (~$100/barrel) and dated Brent physical price (~$130/barrel) has hit $35 — the largest paper-vs-physical gap ever recorded. With the Strait of Hormuz still blockaded and the UAE walking out of OPEC+, Exxon and Chevron are quietly printing money on refining margins while everyone else panics. Berkshire's Ajit Jain is even eyeing Hormuz shipping insurance, because of course he is.

Spirit Airlines, running on fumes and a failed $500M government bailout, finally flatlined — a monument to what happens when fuel costs double and your business model is held together with checked-bag fees and prayers.