It isn't really his caution. He's has consistently increased his cash position since 2010. He has said he literally can't find a large company at the right price that he doesn't get outbid on.
Some people say his cash position is needed in case of a West Coast "Big One" earthquake and a Cat 5 hurricane hittting the East Coast. But Berkshire has said that both of those things combined would only cause ~$20B in payouts.
He literally has excess cash he doesn't want, but Buffett would rather have too much cash than purchase a bad deal.
This causing the BB shorts with other ones grief:
[https://www.finra.org/rules-guidance/guidance/reports/2024-finra-annual-regulatory-oversight-report/cat](https://www.finra.org/rules-guidance/guidance/reports/2024-finra-annual-regulatory-oversight-report/cat)
**Ban Bet Created:** **/u/Iront1gers** bet **CCJ** goes from **53.6** to **57.77** before **16-Jul-2024 08:50 PM EDT**
Their record is 8 wins and 3 losses.
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