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Berkshire Hathaway ended the first quarter with a record cash pile of about $397 billion.
Berkshire Hathaway holds a record $397 billion in cash, continuing to sell stocks amid market highs.
KEY POINTS
- Buffett and successor Greg Abel have shifted investments into short-term Treasury bills while reducing equities.
- The company sold $24 billion in stocks and bought only $16 billion during the first quarter.
- Berkshire's large cash position signals it sees few attractive opportunities in today's overheated market.
- Despite acquiring Occidental Petroleum's chemicals unit, Berkshire's cash pile has grown even larger.
COMPANIES
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