Warren Buffett can’t find bargains the way he used to. On Saturday, his Berkshire Hathaway reported its cash pile reached $147 billion while operating profits jumped 7% year over year to $10 billion in the second quarter.
That’s a solid performance, but the growing hoard of cash, nearing a record level, is an ongoing “problem” for the Oracle of Omaha—albeit a nice one to have. It suggests his conglomerate is struggling to find bargains in acquisitions or the stock market amid high valuations.
