Experts said that financial investor Warren Buffett is not investing his cash pile fast enough, according to a report by Bloomberg.
Buffett, chairman and CEO of Berkshire Hathaway Inc., said that he liked to keep USD20 billion in hand in case his company needed to pay large claims. Buffett believed that additional cash would allow him to invest big if fear is looming in the market.
"It's a high-class problem," Cliff Gallant, an analyst at Nomura Holdings Inc., told Bloomberg. "The year's not up. I wouldn't be surprised to see another deal of some sort."
Buffett's cash pile climbed to USD49.1 billion March of this year and fell during the second quarter after Buffett's deal with Heinz. According to reports, Berkshire had an estimated USD40 billion on hand.
In his May interview with Bloomberg TV's Betty Liu, Buffett said that having a cash pile of USD20 billion. However, he also said in the same interview that he would not spend it haphazardly.
Join the Conversation