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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsBuffett nears a milestone he doesn't want: $100 billion in cash
Its a milestone Warren Buffett probably wishes he werent approaching.
Berkshire Hathaway Inc., the conglomerate hes run for more than five decades, reported Friday that it held just shy of $100 billion in cash at the end of the second quarter.
While that figure highlights the staggering money-making ability of the businesses hes collected over the years, its also a burden. Because Berkshire doesnt pay a dividend and rarely buys back its own stock, Buffett is on the hook to find ways to invest those funds.
To put that money to work would be great, said David Rolfe, chief investment officer at Wedgewood Partners, a money manager overseeing about $6 billion including Berkshire stock. But the list of companies that he would like to own is very, very small.
Read more here: http://www.star-telegram.com/news/business/article165907907.html
itsrobert
(14,157 posts)Sell high, buy low.
DFW
(54,268 posts)I have no clue how much that works out to per share, but I'll bet it would pay for a nice dinner for two even for those peons who own only one share
dawg
(10,621 posts)It'd be worth more than the rest of my portfolio combined.
A rich friend begged and pleaded with me to pour all I had into it. I said are you nuts? Whoever heard of a share of stock being worth $33,000? He pleaded and swore, and he WAS really well off. So I went ahead and did it, which is REALLY against my usually cautious nature. That's why he's rich and I'm not, I guess.
dawg
(10,621 posts)The fact that Buffet is raising so much cash right now is a testimony to just how prudent he is with management of shareholder assets.
DFW
(54,268 posts)But I have little time and less understanding. Because of the way my time is structured, I don't have have much of a chance to study the mechanics of how these things work. When my friend first started telling me about brk.a he might as well have spoken Hungarian for all I understood.
dawg
(10,621 posts)DFW
(54,268 posts)Linguistically speaking, Hungarian isn't even a European language. No matter what else you might speak, with Hungarian you have to start from scratch.
shraby
(21,946 posts)lame54
(35,259 posts)Poor guy
WinkyDink
(51,311 posts)scholarships!
HeartachesNhangovers
(814 posts)Warren Buffet's to give away, since he "only" owns about 20% of the company.
tammywammy
(26,582 posts)This is the company's money though and he only owns about 20% of it.