From Capital & Conflict (GBR) – I come to praise Warren Buffett, not to bury him. But keep a shovel handy just in case. The iconic value investor presided over his annual “Woodstock for geeks”, otherwise known as Berkshire Hathaway’s annual meeting. What did we learn? Berkshire’s balance sheet shows $71 billion in cash and short-term investments (securities that could be converted into cash quickly). Buffett said he’d be happy to deal (buy other companies) at the right price. He’d even be happy to buy Berkshire’s own shares back, at the right price. But the price is not right, and Berkshire’s size is part of the problem.