Berkshire Hathaway 's purchase of Treasury bills has been so aggressive that the Warren Buffett-controlled conglomerate now owns 3% of the entire bill market, according to JPMorgan.
With short-term rates topping 5%, his massive cash pile, which had been an area of concern when rates were near zero, is now earning Berkshire a substantial return.
The investment legend recently said he finds cash attractive compared to other assets, especially stocks.
Berkshire's cash position may top $200 billion at the end of the second quarter, he added.
"I don't mind at all, under current conditions, building the cash position," he said at Berkshire's shareholder confab.
Persons:
Berkshire Hathaway, Warren Buffett, Buffett, I've
Organizations:
JPMorgan, Oracle, Berkshire, Treasury, Federal Reserve, Fed
Locations:
Berkshire, Omaha