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Berkshire Hathaway, run by Warren Buffett, ended the 3rd quarter of 2019 with a record $128 billion in cash, even though it repurchased $700 million of its own stock.
The cash pile highlights difficulty Buffett has had finding companies to purchase.
In a letter to shareholders, Buffett wrote that it’s become increasingly difficult to find large companies to purchase. Why? Buffett says, “Prices are sky-high for businesses possessing decent long-term prospects.”
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