Investing legend Warren Buffett has built a record $334 billion cash position at Berkshire Hathaway.
The firm’s new fourth-quarter and yearly earnings reports show Buffett continues to be a net seller of assets, with cash on hand rising from $325 billion at the end of Q3.
The firm’s Q4 sales include a whopping sell-off of 117 million Bank of America (BAC) shares, worth about $5.5 billion.
In his annual letter to shareholders, Buffett says despite the firm’s ongoing unload of equities, investors should not be concerned that Berkshire is hoarding too much paper money.
“Berkshire will never prefer ownership of cash-equivalent assets over the ownership of good businesses, whether controlled or only partially owned…
Despite what some commentators currently view as an extraordinary cash position at Berkshire, the great majority of your money remains in equities. That preference won’t change.
While our ownership in marketable equities moved downward last year from $354 billion to $272 billion, the value of our non-quoted controlled equities increased somewhat and remains far greater than the value of the marketable portfolio.”
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