Subject: Re: What are we missing?
Buffett said something subtle during last year’s annual meeting. I’ve been thinking of the 300+ billion cash on hand but Buffett quietly said that they’re allocating capital to 3 month treasuries. As he often has said, all decisions are made in relation to the next best idea. IOW, “Nothing measures up to the risk free 3 month stuff at the present moment.”. I wouldn’t call it cash!