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.

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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,