Microsoft’s Cash

Since I just blogged about it, a reader sent me a link to this story about Microsoft's cash hoard.

Microsoft, whose co-founder and Chairman Bill Gates is the world's wealthiest and most famous college dropout, has nearly one-tenth of all cash on hand reported by all companies whose shares make up the Standard & Poor's 500 index.

"We want to give a much broader time allocation to the management of that portfolio and what we're doing to grow it and protect it,'' Connors said in a conference call with analysts and investors after Thursday's earnings release.

Pretty amazing stuff. If people ever stop buying software, Microsoft could be just a giant mutual fund.