KKR, Brookfield, and Apollo are all pulling pages from Berkshire Hathaway's playbook, but success will require smarts, patience, and discipline.

That amounts to a warning for prospective investors and current shareholders. Berkshire had a record $334 billion in cash and equivalents on its balance sheet in December 2024. Yet, Buffett chose not to repurchase stock for two consecutive quarters, something that has not happened in six years.

Still, by the end of the first quarter, the cash balance had grown to nearly $189 billion. By the second quarter, cash was up to roughly $277 billion. Cash increased again in the third quarter, hitting $325 billion. And Berkshire Hathaway's cash stockpile ended 2024 at a shockingly large $334 billion.

Evidence shows companies are still obsessed with hiring college grads. Warren Buffett and a mountain of evidence says that’s costing them.