Waiting for Godot

Holding cash while waiting for a fat pitch is overrated

Forty thousand people descend each year on a convention centre in middle America. They're there to learn from Warren Buffett and Charlie Munger, two of finance's best minds. But the hero worship runs deep. Slapping a value investor's mother is safer than critiquing their idol. And few of Buffett's commandments get more head nods than to 'wait for a fat …