I’m kind of curious about what these moves say about BRK‘s investment strategy going forward. I always thought the basic strategy was to buy companies that throw off cash and use that cash to buy other reasonably-valued companies that throw off cash, getting larger and larger in scale until BRK itself became a self-sustaining, cash-generating machine. This seems to have worked so well that we now have a mountain of cash that we can’t sensibly deploy. A good problem to have, but still a problem, especially if it means the strategy has stopped working.

So my question is this: aside from the frustration of holding too much cash right now, which requires us to exercise patience, is this (still) a viable/winning strategy? If not, other than dividends or buybacks, what options do we have?

abromber