Cash is piling up faster than Warren Buffett can invest it


OMAHA, Neb. (AP) — Warren Buffett has the kind of money problem most people would envy: a growing mountain of cash.

Buffett’s Berkshire Hathaway is holding more cash than ever with nearly $73 billion on hand. And the total grows every day he doesn’t make a deal.

Buffett says he’s always hunting for sizeable acquisitions for Berkshire, but he’s mostly sitting on the cash this year.

Investor Andy Kilpatrick, who wrote “Of Permanent Value: The Story of Warren Buffett,” says he thinks Buffett is looking for a great company selling at the right price.

Berkshire earns little on its cash, but Buffett isn’t likely to feel much pressure from shareholders.

After all, Buffett still controls nearly one-third of the voting stock, and Berkshire shareholders have rejected the idea of a dividend before.

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