Is There a Good Alternative to Investing in T Bills?

Carol Warren: Berkshire has a virtual hold on large amounts of cash and T bills it seems to me you don't practice what you preach. I'm thinking that a good alternative would be for you to invest most of Berkshire's excess cash in a well-diversified index fund until you find an attractive acquisition or buyback stock had you done that over the past 15 years all the time keeping the 20 billion dollar cash cushion you want, she says. Carol Warren: If we'd instituted that policy in 2007 or 8 we might have been in a different position in terms of of our ability to move late in 2008 or 2009. We committed ten billion a week ago and there are conditions under