Buybacks can continue for as long as Berkshire has at least $30 billion in cash and equivalents on its balance sheet. Since the conglomerate is sitting on a staggering $347 billion in liquidity right now, Buffett and his team can authorize more buybacks whenever they feel the time (or the price) is right.

Warren Buffett, widely regarded as one of the most successful investors in history, has long championed a disciplined approach to investing rooted in value and patience. In his 1977 Berkshire Hathaway (BRK.

Perhaps that’s one reason stocks are selling off globally this morning. While most indexes in Asia and Europe remain near their all-time highs, there is broad-based but mild selling in all of them.