Warren Buffett has never been in a hurry to deploy capital. And this quarter, Berkshire Hathaway’s (BRK.B) (BRK.A) latest earnings report shows exactly how far that patience extends. The firm now holds $314.1 billion in U.S. Treasury bills — a position so large it represents 5.1% of the entire T-bill market, up from 4.89% last quarter.
When asked why Berkshire has continued building its Treasury stake while trimming equities, Buffett responded with a familiar yet pointed observation: “The one problem with the investment business is that things don't come along in an orderly fashion — and they never will.”
