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Stocks A to Z / Stocks B / Berkshire Hathaway (BRK.A)
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Author: sutton ✶  😊 😞
Number: of 15055 
Subject: Re: OT: T-bills
Date: 02/21/2025 5:26 PM
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"I'd rephrase the question a bit. Is the extra yield you're getting commensurate with the extra systemic risk you're taking?...Berkshire head office doesn't buy money market funds, they buy T-bills. They like to be sure."

This whole discussion reminds me of the 1992 Berkshire letter: ""If options aren't a form of compensation, what are they? If compensation isn't an expense, what is it? And, if expenses shouldn't go into the calculation of earnings, where in the world should they go?"

...which in this case might be paraphrased, "If the [EFT, bond fund, investment grade yada] aren't all T-bills, what are they? And if they're not, what, exactly is the added risk? And, how much am I getting paid for that risk?"

--sutton
who is nowhere as sophisticated as Jim, but is deep down a bit of a catastrophist, so net/net


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