Legendary investor Warren Buffett told shareholders in his Berkshire Hathaway company that the vast majority of stocks he examines are, in his opinion, overpriced.
As a result, Buffett, who has made himself the world's second most wealthy man by practicing his philosophy of 'value investing', is sitting on more than $40 billion in cash, quipping that at present, the firm has "got more money than brains."
"If the market gets cheaper, we'll have a lot more things we can do with our money," he told the gathering.
http://www.investorsoffshore.com/asp/story/storyinv.asp?storyname=19724
As a result, Buffett, who has made himself the world's second most wealthy man by practicing his philosophy of 'value investing', is sitting on more than $40 billion in cash, quipping that at present, the firm has "got more money than brains."
"If the market gets cheaper, we'll have a lot more things we can do with our money," he told the gathering.
http://www.investorsoffshore.com/asp/story/storyinv.asp?storyname=19724
