News Summary

• He predicted the money mountain would surpass $200 billion by June — roughly double its level two years ago.The famed investor and Berkshire CEO isn't only in the market for cheap, high-quality stocks — he also wants to make an "elephant-sized acquisition" but years of hunting haven't paid off.
• Related stories Hanke also underscored that Buffett seeks to bet on companies that are attractively valued and virtually certain to increase their earnings over the next five years.
• Warren Buffett is building a cash pile as he probably can't find anything worth buying, and may be bracing for a tempest to hit, says Steve Hanke.
• "Buffett underlined the appeal of cash when stocks are pricey, global growth is depressed, and conflicts are raging overseas during this month's shareholder meeting.
• Buffett underscored the dearth of compelling purchases during his company's annual meeting this month: "We haven't seen anything that makes sense, that moves the needle.
• "That looks like a risky bet, particularly since Buffett seems to see economic and geopolitical storm clouds on the horizon," he said.