Nearly 30,000 pilgrims made the journey this weekend to the mecca of investing - Berkshire Hathaway's (BRK) annual meeting in Omaha, Nebraska. It's a yearly ritual after this meeting to play the game: What will Warren Buffett buy?
Buffett said the entire world is in play and elaborated with CNBC’s Liz Claman after the meeting. Here's an excerpt.
CLAMAN: Berkshire Hathaway is sitting on a pile of around $46 billion in cash to spend?
BUFFETT: It’s probably something like that, yeah.
CLAMAN: But with all of that money, you’d still sell some of that stock if a big enough deal came along where you needed to do that?
BUFFETT: We would sell some equities Berkshire owns if we needed to do so to finance a deal. We’re very reluctant to sell Berkshire stock itself.
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Dylan Ratigan explains that he and the guys read Buffett’s investor letter then came up with criteria that they think Buffet wants in an acquisition target