Warren Buffett's decision to sell stocks and raise record cash before sell-off sends wake-up call

Warren Buffett is looking quite prescient as global equity markets plunged after it was revealed over the weekend that the investing legend dumped a lot in stock, including half of his Apple stake , and raised an unprecedented cash fortress for Berkshire Hathaway in the second quarter.

S. would skirt a recession while squashing inflation. That expectation was called into question with a weaker-than-expected July jobs report. The global markets fell into a deep rout on Monday as concerns about an economic slowdown deepened. The Dow Jones Industrial Average tumbled 1,000 points at one point, while Japan's Nikkei 225 plunged 12% in its worst day since the 1987 Black Monday crash for Wall Street.

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