Warren Buffett's Berkshire Hathaway (BRK-B, BRK-A) rose above $1 trillion in market value, becoming the first US company outside of the tech sector to do so. Berkshire Hathaway shareholder and Scharf Investments managing director Eric Lynch joins Market Domination to discuss the achievement and why he prefers the firm over traditional banks. "This is a fantastic play on higher-for-longer interest rates. We're all talking about some coming cuts, but there still are a lot higher than they've been in the last two decades. If you look at what's happened with Berkshire, there's a lot of focus on the investment portfolio, but the majority of this business is now an operating company and an insurance company under that. And their investment income is skyrocketing with these higher rates," Lynch tells Yahoo Finance. Lynch finds traditional banks to be "good until they're not." As interest rates come down, banks will likely expand their net interest markets. Meanwhile, companies like Berkshire Hathaway are more resistant to economic shifts and pullbacks. "Warren is still kind of a contrarian in a world where... investment flows are really crowding into tech and fixed income. Buffett is speaking with his portfolio, and he's got $272 billion in cash and T-bills... He's well-positioned to take advantage of any dislocation," Lynch says. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Melanie Riehl