From the manpage:
-T
  Perform timings of cache reads for benchmark and comparison  purposes.   For
                meaningful results, this operation should be repeated 2-3 times on an other‐
                wise inactive system (no other active processes) with at least a  couple  of
                megabytes  of free memory.  This displays the speed of reading directly from
                the Linux buffer cache without disk access.  This measurement is essentially
                an  indication  of the throughput of the processor, cache, and memory of the
                system under test.
Although you have the lowercase -t flag first, the command is running -T first.
The important part of that message is this:
This displays the speed of reading directly from the Linux buffer cache without disk access.
This test doesn't even touch the disk. It's really just testing how fast your computer itself can perform data operations.
Running sudo hdparm -T /dev/sda on my machine returns:
zachary@MCServer:~$ sudo hdparm -T /dev/sda
[sudo] password for zachary:
/dev/sda:
 Timing cached reads:   9270 MB in  2.00 seconds = 4637.91 MB/sec
http://www.linuxquestions.org/questions/linux-newbie-8/difference-between-buffered-disk-reads-and-cached-reads-891453/