Buffet is stuck between a rock & a hard place. He doesn't believe in assets that don't produce a fiat income stream, so won't do gold or crypto. Even less love for negative interest so growing sour on bonds. He doesn't have any place left to put money that fits his philosophy.https://twitter.com/NickSzabo4/status/1167973272610230272 …
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Lots. But keep in mind that companies like Apple and Google like to use free cash to buy back their own shares. It’s a game they’ve been playing for years. Different priorities from a fund manager like Buffet.
Right. And at least past tense these were much more active warchests than Berkshire's since 2008. That cash was once used more to buy smaller tech companies; these days used more to buy back stock, which makes their stock price appreciate faster than actual or expected profits.
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Correct. And as long as management bonuses are tied to stock price they’ll continue to borrow $ for free and inflate their own shares.
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