Buffett’s Cash Soars to Record as Operating Profit Edges Higher
Warren Buffett is sitting on more cash than ever.
His Berkshire Hathaway Inc. had almost $85 billion on its books as of Sept. 30, according to a regulatory filing late Friday. That’s up from the previous record of $72.7 billion on June 30.
“He’s got a lot of ammo” for investments, said Bill Smead, who oversees about $2.1 billion including Berkshire shares at Smead Capital Management. “Eighty-five billion dollars is a lot of money.”
Read full Article here »