Does it make sense for a company to hold a huge pile of cash on its balance sheet? Theoretically, no — it’s better to give the money back to shareholders and let them decide what to do with it. In reality, companies like Apple and Berkshire Hathaway have become enormous piggy banks, and investors seem fine with it.
一家公司在资产负债表上持有大量现金是否合理？从理论上讲，并不合理——更好的做法是将资金返还给股东，让他们自行决定如何使用。但在现实中，像苹果(Apple)和伯克希尔•哈撒韦(Berkshire Hathaway)这样的公司却成了巨大的“储钱罐”，而投资者似乎对此并不介意。
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