Read? Warren Buffett reveals what's holding him back from putting Berkshire's $90 billion in cash to work
"I hate cash," Buffett said in an interview that aired Friday on "Squawk Box," one day before Berkshire's annual meeting in Omaha, Nebraska.
"I mean we are investing," he said. "But [cash] is a holding position until you find something else. But the very fact that interest rates are that low makes it hard for us to buy other things because other people buy things with borrowed money, and borrowed money is so cheap."
He added: "If we are competing with equity money against slim equity plus a lot of debt, we're at a disadvantage."
Buffett said he thought Berkshire was doing well with $90 billion cash until he saw this week that Apple's cash pile swelled to $256.8 billion in its fiscal second-quarter.
"I'm very jealous," he laughed. "I thought I was doing OK until I looked at their balance sheet."
"On the other hand," he said. "We've got ours here in the United States." Apple keeps most of its cash outside the U.S. for tax purposes.
CW8888: Is sitting on pile of cash waiting for opportunities is doing well?
Hmm ... like that arh!
Then based on Buffet's wisdom on cash; Uncle8888 should be doing fine too.
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