Recently, I have noticed that this is one of the most negative emotions among people. Two elderly people in their 90s have been selling assets to cash out recently. Li Ka shing, 97 years old. At the end of February, UK Power Networks, which had been held by the company for 16 years, was sold to French company Engie for HKD 110 billion. This power grid covers London, the southeast and east of England, with 192000 kilometers of lines supplying power to 8.5 million households. He bought it in 2010 and earned over 500% investment return in 16 years, plus dividends of £ 4.4 billion. Buffett, 95 years old. Starting from 2024, Berkshire Hathaway has continuously reduced its holdings in Apple, cutting two-thirds of its positions. Now, Berkshire Hathaway's cash reserves have reached $373 billion, the highest in history. He said on CNBC himself, 'I sold it too soon,' but the key is the latter half: 'I wouldn't buy in this market' - I won't buy at this price now. Two big shots are running away with buckets at the same time, and putting them together doesn't taste right. I went to look through history. Berkshire Hathaway's cash has exceeded its stock holdings only five times in history: In 1969. Before Black Monday in 1987. The peak of the Internet foam from 1999 to 2000. Before the 2007-2008 financial crisis. From 2024 to present. Every time, there is a sharp decline afterwards. The one in 2007 is worth a closer look. At that time, the A-share market was in its largest bull market in history, and everyone was shouting that 6000 points was not a dream. Buffett cleared his position in PetroChina with a return of 700%. At almost the same time, Li Ka shing reduced his stake in China Southern Airlines for ten consecutive times, cashing out HKD 1.5 billion. In 2008, the financial crisis broke out, causing the total market value of A-shares to shrink by over 60%, while PetroChina and China Southern Airlines fell by nearly 80%. Now look back at 2026. On the surface, Buffett's reason for clearing Apple's position is that the valuation is too high. But Apple was the company he once said was' better than any business Berkshire owns out right ', with a position that earned over $100 billion in profits, and he still sold it. On the surface, Li Ka shing's reason for selling the UK power grid is "high-level monetization". But the power grid is a public utility with extremely stable cash flow, and normally no one would sell it. He chose to sell at this point in time, indicating that he has a judgment on the global asset prices that will follow. The joint action of two people points to the same thing of hoarding cash. Most of Buffett's $373 billion in cash bought US treasury bond bonds. The HKD 110 billion cashed out by Li Ka shing has not been reinvested. The cash they hold in their hands is the price waiting for the market to fall. Qiaoshui recently issued a ten thousand word warning in a lengthy article, stating that the world order is undergoing drastic changes and the crisis is intensifying. The US Iran war is still ongoing, the tariff war is escalating, the global supply chain is restructuring, and interest rates remain high. I don't know if there will really be a 2008 level crisis. But two people who have lived for almost a century and crossed n cycles are selling assets and hoarding cash. If the overall market situation is not good, the cryptocurrency industry is probably not much better. At least clear the lever in your hand and survive is the most important thing.