Warren Buffett has cashed in a net $177 billion of stocks because he expects a downturn and plans to capitalize, Wedbush's Paul Dietrich said.

UnitedHealth Got a Boost From Berkshire’s Buying. 2 Reasons to Wait to Follow. UnitedHealth Group, the worst-performing stock in the Dow Jones Industrial Average so far this year, got a major boost last week from billionaire investor Warren Buffett. That doesn’t mean everyone else should buy.

NEW YORK] The Warren Buffett effect is proving true once again, spurring UnitedHealth Group’s reversal this month and giving the Dow Jones Industrial Average a push towards its first closing high since last year.

Shares of UnitedHealth Group are surging before the market open Friday as Warren Buffett’s Berkshire Hathaway disclosed that it recently purchased shares of the beleaguered insurer.

The conglomerate sold Apple shares during the second quarter, though the iPhone maker remains Berkshire’s largest stockholding.

Warren Buffett, the ‘Oracle of Omaha,’ may be reportedly trimming stocks because he’s expecting a stock market downturn, according to Wedbush’s Paul Dietrich. The senior strategist told Business Insider that Buffett has a track record of exiting markets before recessions,