Buffett also said another technology giant, Microsoft Corp., is "attractive," adding he doesn't invest in it because of his relationship with the software maker's co-founder and fellow philanthropist Bill Gates. Buffett has pledged the bulk of his wealth to the Bill & Melinda Gates Foundation.
"Microsoft is off bounds to us because of my friendship with Bill," he said.
Berkshire's investable funds were boosted this year as Goldman Sachs Group Inc. and General Electric Co. returned financing that Buffett extended during the 2008 credit crunch. Cash was also bolstered by earnings at units from the Burlington Northern Santa Fe railroad to the Geico car insurer. The third- quarter investments reduced Berkshire cash hoard to $34.8 billion as of Sept. 30 from $47.9 billion three months earlier.
"The guy has a billion-plus coming in to Omaha" every month, said David Rolfe, chief investment officer of Berkshire investor Wedgewood Partners Inc.
The Standard & Poor's 500 Index, which fell 14 percent in the third quarter, has advanced 12 percent since Sept. 30.
"If the stock is cheap, we will buy it," Buffett said in a Sept. 30 interview with Bloomberg Television.