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Today people who hold cash equivalents feel comfortable. They shouldn't. They have opted for a terrible long-term asset, one that pays virtually nothing and is certain to depreciate in value.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Today
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Depreciate
Nothing
Pay
Opted
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Comfortable
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Terrible
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Equivalents

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Money is not everything. Make sure you earn a lot before speaking such nonsense.
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Somebody's buying these treasury bills at 1/20th of one percent. Consuming about $2 billion a day of goods and services beyond what we're producing. In other words, the rest of the world sends about $2 billion a day net of something.We got to send them something in return, don't we. So we send them little pieces of paper.
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You don't ever ask a barber whether you need a haircut.
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I'm sitting with six and a half billion dollars we're going to use to close the Mars-Wrigley deal on October 6. I've got to hand over that six and a half billion on October 6. Now, I have to be very careful about who I leave it in between now and then, because they're expecting that he show up.
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The woman that comes in, takes the wastebasket away, she's paying 15.3 or whatever it is on payroll tax alone. I mean it is - I never had it so good.
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Writing checks to the IRS that include strings of zeros does not bother me ... Overall, we feel extraordinarily lucky to have been dealt a hand in life that enables us to write large checks to the government rather than one requiring the government to regularly write checks to us-say, because we are disabled or unemployed.
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