Links - 10/20/2022

“We view cash as a residual [whatever is left over after you have made all the good investments you can find]. When we find great opportunities, we buy them, and when we don’t, we hold cash. We don’t choose to throw it into things that are not undervalued or mispriced. So our cash is a residual, and from time to time we have meaningful cash.” —Seth Klar…