Subject: Re: Buffett sold more Apple
I think at the last meeting he said something like, ‘it wouldn’t matter what interest rates would be the cash would still be there…but don’t tell the fed’- meaning whether bills were at 5% or 2% he would still have that much cash.

Selling BAC after the quarter end is also going to add to the pile.

Setting themselves up for huge optionality, either an elephant or repurchases at lower prices.