3月13日，“股神”巴菲特在接受CNBC专访时表示，现金虽然像氧气一样不可或缺，但本身并不是一项优质的资产。投资人必须持有一定现金以应对不确定性，但长期而言，资金仍应投入能持续创造价值的资产。
巴菲特提到，当他于2025年底卸任伯克希尔哈撒韦CEO时，公司账上持有超过3700亿美元现金等价物，主要配置于美国国库券。这笔庞大现金并非出于保守考量，而是因为在目前市场环境下，难以找到规模足够、同时具备吸引力的投资机会。尽管持有大量现金可以带来一定利息收入，但巴菲特仍强调，相较于现金，他更偏好能通过复利长期增值的生产性资产，例如股票。巴菲特表示，在某些程度上现金确实必要，但现金不是一项好的资产。他将现金比喻为投资组合中的氧气，氧气取得容易且不可或缺，但本身并不令人兴奋。投资人需要保留一定现金，以便支付各项义务，并在市场出现良好投资机会时迅速出手。
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