Subject: Re: Jason Zweig on BRK's Cash
It is normal for an insurance company to have a large bond portfolio. Sometimes that is the only type of investment they make. Just picture Berkshire's bond portfolio as positioned unusually short in duration and stop worrying about what is called "cash" vs "fixed income."

Is it normal for an insurance company to have 322/174 = 1.85x float in fixed income? Plus a bunch of equities and businesses?

Genuine question. I don't know. I got burned early on with an insurance company (went bankrupt) and the only one I trust to invest in is Berkshire.