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Berkshire Hathaway's Vice Chairman Abel smiled and said, "Our starting point is very high." He also mentioned Berkshire's rock-solid balance sheet. Abel referred to the cash reserves as "a huge asset" that Berkshire will deploy at the right time. He called it a "strategic asset" that can be used to weather difficult times and ensure the company "never relies on banks or others" to succeed. Abel said that in managing risks and operating businesses under regulation, the company will adhere to the same principles as Berkshire has for the past 60 years.