Warren Buffett's Berkshire Could Buy Almost Any S&P 500 Company With Its $397 Billion Cash Pile, but Keeps Waiting for a Better Price
The company's cash position has ballooned to nearly $400 billion.
Overview
You know the expression "burning a hole in my pocket?" It's an old phrase for the restless feeling some people get when they have extra cash. But spending money on a whim is no way to invest, and it could lead to bad habits that get you in trouble one day.
I think this is a problem Warren Buffett never had. Buffett led Berkshire Hathaway (NYSE: BRKA) (NYSE: BRKB) for six decades before turning the reins over to Greg Abel, its new CEO, at the beginning of the year. And during his tenure, Buffett built an impressive conglomerate that also holds an exceptionally large cash position.
Details
How large? At the end of the first quarter, Berkshire's cash was a whopping $397.4 billion. Put another way, there are only two dozen companies in the entire S&P 500 with a market capitalization that's greater than Berkshire Hathaway's cash pile.
Source
Originally published at www.fool.com.