Buffett Holds Out Hope for Mammoth Deal as Cash Pile Grows
- Berkshire CEO laments “sky-high” prices for acquisitions
- Company’s cash climbs to $112 billion in fourth quarter
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Warren Buffett says he wants to spend Berkshire Hathaway Inc.’s growing pile of cash on a giant acquisition, but he doesn’t see that happening anytime soon.
“Prices are sky-high for businesses possessing decent long-term prospects,” Buffett wrote in his annual letter to investors, adding that will lead to buying more public stocks in 2019. “We continue, nevertheless, to hope for an elephant-sized acquisition.”