Rodent Regatta

comes into the coffers of Berkshire Hathaway as free cash flow. To continue to grow the company and achieve the target rates of return that Warren Buffett has suggested, this cash flow must be periodically invested in out-sized opportunities. It doesn’t prevent an investment in smaller opportunities when the potential is so obvious. Soon those ”smaller opportunites” add significant power to the underlying companies.

Berkshire Steps on the Gas. Buffett picks up Dynegy pipeline unit on the cheap. [The Motley Fool]