I would say basically we’re like the captain of a ship when the worst typhoon that’s ever happened comes. We just want to get through the typhoon, and we’d rather come out of it with a whole lot of liquidity. We’re not playing ‘oh goody, goody, everything’s going to hell, let’s plunge 100% of the reserves [into buying businesses]” — - Charlie Munger, vice chairman of Berkshire Hathaway So says Charlie Munger, Warren Buffett’s business partner and vice Chairman of Berkshire Hathaway, in a Friday interview with the Wall Street Journal.
Source: MarketWatch