Warren Buffett's $168 billion cash pile signals he expects stocks to slide and a recession to strike, says top economist Steve Hanke

• Warren Buffett's company boosted its cash pile by $60 billion in 15 months to a record $168 billion.
• The investor may be expecting stocks to dive and a recession to hit, top economist Steve Hanke said.
• Buffett hit out at rank speculation and gambling on stocks, and Hanke voiced similar concerns.

Warren Buffett's massive war chest signals that he expects stocks to tumble and the economy to tank, Steve Hanke says.