Warren Buffet (that's Warren the billionaire not Jimmy the beach Bum) has gone on a buying spree. He is snapping up companies. This is why he is a billionaire. He maintains a strong cash position AND he knows that bad news also means opportunity.
The other thing this indicates is that Warren has confidence in the US economy. He would not be spending his cash if he did not think that we would rapidly pull out of this crisis.
While I do not comprehend his political leanings the guy deserves kudos for being a great financier.
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