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Warren Buffett explains boost in cash for Berkshire Hathaway in annual letter


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  Billionaire Warren Buffett, marking 60 years leading Berkshire Hathaway, told shareholders in his annual letter released Saturday that he continues to prefer stocks despite a higher cash position.

Warren Buffett, in his annual letter to shareholders, explained the significant increase in cash reserves at Berkshire Hathaway, which reached a record $167.6 billion. He attributed this boost primarily to the lack of compelling investment opportunities that meet his stringent criteria for value and long-term growth. Buffett highlighted that while the company sold $25 billion in stocks and bought back $9.2 billion of its own shares, the overall market conditions did not present many opportunities for large-scale investments. He also noted that despite the high cash pile, Berkshire's operating earnings rose by 21% to $37.4 billion, driven by strong performances in its insurance and railroad businesses. Buffett reassured investors that the cash would be deployed when suitable opportunities arise, emphasizing patience and discipline in investment decisions.

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