<<Is it nice?

If inflation is running at 4% you're earning 1%.

I have a large stake in Berkshire. And I'd rather keep it invested in Berkshire. Even if forward returns are temporarily low.

Because the other option is to sell and earn 1% while you hem and haw about what to do with the cash and if now's the right time to reinvest.>>

The vast majority of my net worth is in Berkshire. The only way I can justify
having so much in Berkshire is by having way more than a couple years of
living expenses in cash.

So I am using something of a Barbell approach with my having so much in
BRK and cash. What Carol says about cash earning 1% is true when you look
at the cash only but I choose to look at the whole pie.

There is an old saying in Financial Planning that there are not good
or bad investments but appropriate or inappropriate investments.

Am I maximizing returns? Of course not but I recommend to even seasoned
investors that I know that they read Chapter 3 in the excellent
book The Psychology of Money titled "Never Enough."