In financial news, "cash" is used as a stand-in for treasuries. When an entity is referred to as having a large cash position, it is typically referring to a po

In financial news, "cash" is used as a stand-in for treasuries. When an entity is referred to as having a large cash position, it is typically referring to a position in relatively low risk US debt. Warren Buffett reportedly said this at the shareholder conference about Berkshire's position in treasury bills: "We were aided by a predictable large gain in investment income as Treasury Bill yields improved and we substantially increased our holdings of these highly-liquid short-term securities" https://www.ft.com/content/114a157a-6dd8-4705-9efa-53fbe768887f https://www.ft.com/content/114a157a-6dd8-4705-9efa-53fbe7688...