When Warren Buffett takes the stage tomorrow in Omaha, you'll hear some wisdom, sundry bits of Midwestern common sense and lots of poor nutritional advice. But the one thing you won't hear is the one you should: that Berkshire is finally paying a dividend to its owners (i.e. Buffett ended 2018 with nearly $112 billion in cash. The $20 billion in cash that Buffett says he always like to keep on hand for emergencies makes sense. Having a third of shareholders equity earning a low, single-digit rate of return makes it hard to achieve decent overall returns on that equity.

Source: Forbes May 03, 2019 15:45 UTC