Buffett bemoans lack of major acquisition opportunities

$112bn in cash

Berkshire Hathaway's Warren Buffett has said he hopes to make "an elephant-sized acquisition" this year, but stressed the lack of investment opportunities in the market.

In his annual letter to shareholders, the 'Sage of Omaha' said the prospects for a mega-deal "are not good" due to the sky-high prices for companies with long-term prospects. "That disappointing reality means that 2019 will likely see us again expanding our holdings of marketable equities," Buffett said. "In the years ahead, we hope to move much of our excess liquidity into businesses that Berkshire will permanently own." Buffett: Cheap debt behind M&A 'purchasing frenzy' Berkshire is sitting on around $112bn in cash at the end of 2018 as the company struggles to find any home f...