This article is the first in a series of responses to questions from readers.
Unfortunately I missed the question window, but perhaps you'd consider another one as follows.
Over a very long period of time, float has approximated cash. So in effect Berkshire has not used the leverage provided by float, or at least not the vast majority of it. This is quite a different scenario to what most people think is the case. And goes to show how very conservatively things are run. What is your general take on this and do you see it changing post Buffett?