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Berkshire Hathaway (BRK.B, Financials) isn't in a hurry. Speaking at the annual meeting, Warren Buffett (Trades, Portfolio) said the company now holds more than $300 billion in cash and short-term investments. That's about 27% of total assets. For Buffett, that cash is a safety netand a weapon. It gives him the freedom to wait for something truly special.
He mentioned one example: a $10 billion opportunity that looked good, but not great. They passed. Buffett told shareholders he won't settle. Deals at Berkshire don't happen on a schedulethey happen when the numbers make sense.
One place where the numbers still make sense: Japan. Berkshire owns stakes in five major Japanese trading firms. Buffett called it a 50-year investment. No drama, just steady conviction.
Real estate? Not so much. Buffett said it's slow, messy, and full of red tape. Stocks, he pointed out, let you move quickly and quietly. That speed matters when the right moment comes along.
He also took a moment to reflect on trade. While he didn't name names, Buffett pushed back against the idea of using tariffs as leverage. Trade, he said, should build mutual prosperitynot tension. That's how Berkshire thinks about global business: long-term, collaborative, and grounded in trust.
The big picture? Berkshire is staying patient. There's no rush to deploy cash just to keep busy. Buffett and his team are waiting for the right pitchand they've got the money and mindset to do it.
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This article first appeared on GuruFocus.