New Delhi, Aug. 12 -- Berkshire Hathaway has generated market-crushing returns for roughly six decades. But after the former CEO, Warren Buffett, stepped down, the company not only lost its charm but also some of the premium that investors paid for Berkshire's stock, which has underperformed the broader market this year.

Now, Berkshire's stock has bounced back over the past month, up 4.6% (as of Aug. 11), as new CEO Greg Abel, handpicked by Buffett, has started deploying some of Berkshire's huge cash pile. But it still fails to convince Michael Burry of The Big Short, who recently noted that Berkshire is "an attractive investment."

But the concern is less about Abel and more about Berkshire's towering cash pile, which reached almost $40...