Fed Shot Its Own ‘Elephant Gun’ Before Buffett Got the Chance

(Bloomberg) -- Subscribe to What Goes Up on Apple Podcasts
Subscribe to What Goes Up on Pocket Casts
Subscribe to What Goes Up on Spotify

Warren Buffett has referred to the massive cash pile at his company Berkshire Hathaway Inc. as his “elephant gun,” meaning he’s always on the prowl for an opportunity to shoot large sums of money at a big acquisition or investment. While he made a few deals this year as the Covid-19 pandemic roiled markets, he hasn’t been quite as active as he was during the global financial crisis more than a decade ago.

Why is that? Joining this week’s “What Goes Up” podcast to discuss why is Larry Pitkowsky, co-managing partner at GoodHaven Capital Management. His GoodHaven Fund counts Berkshire Hathaway as its top holding. Pitkowsky also discusses other holdings in the fund and shares some thoughts on markets and investing. 


 

©2020 Bloomberg L.P.