Buffett’s big bag of cash
Paraphrasing Warren Buffett, he once said that he likes stock market collapses, because they make great companies cheaper to buy without making them any less great. So it’s no surprise to hear that, during the last year’s US bear market, Buffett’s Berkshire Hathaway has bought enough shares to become the largest single shareholder in global branded food business Kraft. Again paraphrasing Buffett, when the market falls over a cliff, the best place to be is standing at the bottom with a bag full of cash.
April 28th, 2008 at 11:01 pm
[…] Hathaway and Mars have put together a US$22b deal to acquire Wrigley - yet another example of Warren Buffett’s adage that “the best place to be when the market falls off a cliff is waiting at the bottom with a […]