"I don't get it," the highly-respected founder and chairman of Berkshire Hathaway [Warren Buffett] told Fox Business News late Friday, saying his Omaha, Nebraska-based company would hold onto its considerable trove of US Treasury bills."In Omaha, the US is still triple-A. In fact, if there were a quadruple-A rating, I'd give the US that," he said, hours after the S&P cut the US credit rating from a sterling AAA to an AA+.
Buffett said his firm holds well over $40 billion in short end T-bills and that the decision "doesn't tempt me to sell. We'll stay right there."
For now.
If I had $40+billion invested in it, I’d be talking it up, too. This is the wrong time to try to get rid of it. Last week might have been good.
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