Warren Buffett is battling a bargain drought — and pared his Apple bet because it's a 'one-trick pony,' expert says

REUTERS/Rick Wilking

• Warren Buffett is building up cash because he can't find anything better, Ted Oakley said.
• Buffett probably cut his Apple stake to reduce his exposure to the "one-trick pony," Oakley said.
• The financial advisor predicted Buffett would pounce on bargains regardless of the market backdrop.

Warren Buffett is stacking up cash because he's battling a bargain drought — and he likely trimmed Apple because he felt overexposed to the iPhone maker, one expert says.