Warren Buffett’s must-read annual letter arrives Saturday. Here’s what to expect from the investing legend

I am quoted in this CNBC article:

“We have a roughly 15-year period of abnormally and historically low interest rates. The short term rates we have now are more normal,” said David Kass, a finance professor at the University of Maryland’s Robert H. Smith School of Business. “Interest rates are the main determinant of equity prices, to quote Buffett, so I think I’m looking for and expecting a discussion on interest rates.”

“One comment Buffett may make in his letter is that it’s not so painful to be sitting in cash. There is an alternative now and it’s called Treasury bills, or short term Treasuries,” Kass said.

“Private equity and others who are thinking of making acquisitions would have to go into the market to borrow [at] higher interest rates. This would confer a competitive advantage back to Berkshire,” Kass said.