--- title: Corporate cashflow gets a makeover description: Plus, Berkshire Hathaway’s cash peaks as South Korea’s KOSPI rockets. 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If you made a mistake, please change here USA Country Switzerland Canada: Other than Ontario, Quebec, Alberta Canada: Ontario, Quebec or Alberta USA Other country Language Language English French German Italian I confirm Legal information This marketing document has been issued by Bank Syz Ltd. It is not intended for distribution to, publication, provision or use by individuals or legal entities that are citizens of or reside in a state, country or jurisdiction in which applicable laws and regulations prohibit its distribution, publication, provision or use. It is not directed to any person or entity to whom it would be illegal to send such marketing material. This document is intended for informational purposes only and should not be construed as an offer, solicitation or recommendation for the subscription, purchase, sale or safekeeping of any security or financial instrument or for the engagement in any other transaction, as the provision of any investment advice or service, or as a contractual document. Nothing in this document constitutes an investment, legal, tax or accounting advice or a representation that any investment or strategy is suitable or appropriate for an investor's particular and individual circumstances, nor does it constitute a personalized investment advice for any investor. This document reflects the information, opinions and comments of Bank Syz Ltd. as of the date of its publication, which are subject to change without notice. The opinions and comments of the authors in this document reflect their current views and may not coincide with those of other Syz Group entities or third parties, which may have reached different conclusions. The market valuations, terms and calculations contained herein are estimates only. The information provided comes from sources deemed reliable, but Bank Syz Ltd. does not guarantee its completeness, accuracy, reliability and actuality. Past performance gives no indication of nor guarantees current or future results. Bank Syz Ltd. accepts no liability for any loss arising from the use of this document. [The week in seven charts](https://blog.syzgroup.com/fast-food-for-thought/tag/the-week-in-seven-charts) ### Corporate cashflow gets a makeover Plus, Berkshire Hathaway’s cash peaks as South Korea’s KOSPI rockets. Each week, the Syz investment team takes you through the last seven days in seven charts. [![Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/hubfs/charles-2.jpg)](https://blog.syzgroup.com/fast-food-for-thought/author/charles-henry-monchau) [**Charles-Henry Monchau, CFA, CMT, CAIA**](https://blog.syzgroup.com/fast-food-for-thought/author/charles-henry-monchau) Chief Investment Officer **Monday, 03/02/2026** | - [![Pdf](https://blog.syzgroup.com/hubfs/pdf%20(1).png)](file:///C:/Users/awyneken/OneDrive%20-%20Banque%20Syz%20SA/Desktop/Syz-Feature_WeekIn7Charts_260302.pdf) - - - - #### Chart #1 — ## Corporates are shifting their uses of cash Dividends and share buybacks have dropped significantly, with buybacks falling 7% in the fourth quarter. Meanwhile, investment in capex and R&D spending remain high. Companies are returning less money to shareholders than before, whether through dividends or buybacks. ![](https://blog.syzgroup.com/hs-fs/hubfs/image-png-Mar-02-2026-08-37-52-0593-AM.png?width=938&height=666&name=image-png-Mar-02-2026-08-37-52-0593-AM.png)Source: Goldman Sachs --- #### Chart #2 — ## A new all-time high for Berkshire Hathaway cash reserves Warren Buffett’s Berkshire Hathaway currently holds a record $382bn in cash reserves, an amount theoretically sufficient to acquire around 480 companies listed in the S&P 500.  ![](https://blog.syzgroup.com/hs-fs/hubfs/image-png-Mar-02-2026-08-39-19-1537-AM.png?width=859&height=615&name=image-png-Mar-02-2026-08-39-19-1537-AM.png)Source: FT --- #### Chart #3 — ## South Korea’s stock market hit a new all-time high with the KOSPI up ~175% YoY, making it one of the strongest global equity rallies The recent rise in the market is mainly driven by semiconductor companies, which have a large weight in the index. Major firms such as Samsung Electronics and SK hynix strongly influence overall market performance, so higher expectations for chip industry profits push the entire market upward. Export data supports this positive outlook. In early February, total exports increased by 47% year over year despite fewer working days. Semiconductor exports grew even faster, rising 134% compared to last year and now representing more than one-third of total exports, largely due to global demand for AI technologies. Stronger chip exports improve profit expectations, which leads to higher stock prices. At the same time, while Korean stocks continue to reach new highs, cryptocurrency markets have lagged. South Korea is usually a retail-investor–driven crypto market, often showing a “Kimchi Premium,” where local crypto prices trade above global prices during bull markets. This premium has recently declined, suggesting reduced retail participation in crypto. Since the October market crash, retail investors appear to have shifted their money away from cryptocurrencies and into domestic AI and semiconductor stocks. ![](https://blog.syzgroup.com/hs-fs/hubfs/image-png-Mar-02-2026-08-43-39-8110-AM.png?width=708&height=873&name=image-png-Mar-02-2026-08-43-39-8110-AM.png) Source: Bull Theory --- #### Chart #4 — ## A Bloomberg Terminal costs $24,000 a year. Someone just recreated one using Perplexity Computer for $200 a month... Bloomberg’s strength has never been its data—data is increasingly a commodity. Its true advantage lies in the interface: \- Thousands of keyboard shortcuts \- Proprietary screens \- Years of muscle memory built by finance professionals The barrier to switching wasn’t cost. It was the time and effort needed to retrain. AI agents can dismantle this advantage. If an AI can mimic the interface and access equivalent data from public or licensed sources, the lock-in disappears. What remains are only two things: 1. The chat network, which is a social feature 2. Real-time market feeds, which rely on licensing agreements Neither of these constitutes a strong technological advantage. The bigger lesson applies to any product whose edge depends on users learning complex systems. AI doesn’t just learn your system. It can replace it entirely. ![](https://blog.syzgroup.com/hs-fs/hubfs/image-png-Mar-02-2026-08-46-54-2560-AM.png?width=433&height=702&name=image-png-Mar-02-2026-08-46-54-2560-AM.png) Source: Subodh WarekarSubodh Warekar  --- #### Chart #5 — ## The EU is freezing its trade deal with the US On Monday, the main political groups in the EU Parliament paused legislative work on ratifying the deal, awaiting clarification on Trump’s new tariffs. The agreement has already faced challenges, as the US expanded its 50% metals tariff to hundreds of additional products and Trump threatened to annex Greenland. The deal, reached last summer, would apply a 15% tariff on most EU exports to the US while lifting tariffs on US industrial goods. ![](https://blog.syzgroup.com/hs-fs/hubfs/image-png-Mar-02-2026-08-47-52-1740-AM.png?width=1004&height=630&name=image-png-Mar-02-2026-08-47-52-1740-AM.png) Source: Bloomberg --- #### Chart #6 — ## China is indeed dumping US Treasuries China’s holdings of US government bonds dropped $75.5bn in 2025 to $683.5bn, the lowest since September 2008, the Great Financial Crisis. China has sold $350.3bn since 2022. Since the 2013 peak, holdings have fallen $633.2bn. Meanwhile, the rise in Treasury holdings in Belgium or Luxembourg is not China hiding its bonds offshore, but global banks moving out of the increasingly illiquid and over-regulated US market. ![](https://blog.syzgroup.com/hs-fs/hubfs/image-png-Mar-02-2026-08-48-41-2716-AM.png?width=819&height=594&name=image-png-Mar-02-2026-08-48-41-2716-AM.png) Source: Global Markets Investor --- #### Chart #7 — ## Global debt is surging as governments ramp up spending on national security and economic resilience Global debt grew by nearly $29tr in 2025, bringing the total to a record $348tr, according to the IIF. ![](https://blog.syzgroup.com/hs-fs/hubfs/image-png-Mar-02-2026-08-49-40-5406-AM.png?width=1004&height=636&name=image-png-Mar-02-2026-08-49-40-5406-AM.png) Source: Global Markets Investor, IIF  --- #### Disclaimer This marketing document has been issued by Bank Syz Ltd. It is not intended for distribution to, publication, provision or use by individuals or legal entities that are citizens of or reside in a state, country or jurisdiction in which applicable laws and regulations prohibit its distribution, publication, provision or use. It is not directed to any person or entity to whom it would be illegal to send such marketing material. This document is intended for informational purposes only and should not be construed as an offer, solicitation or recommendation for the subscription, purchase, sale or safekeeping of any security or financial instrument or for the engagement in any other transaction, as the provision of any investment advice or service, or as a contractual document. Nothing in this document constitutes an investment, legal, tax or accounting advice or a representation that any investment or strategy is suitable or appropriate for an investor's particular and individual circumstances, nor does it constitute a personalized investment advice for any investor. This document reflects the information, opinions and comments of Bank Syz Ltd. as of the date of its publication, which are subject to change without notice. The opinions and comments of the authors in this document reflect their current views and may not coincide with those of other Syz Group entities or third parties, which may have reached different conclusions. The market valuations, terms and calculations contained herein are estimates only. The information provided comes from sources deemed reliable, but Bank Syz Ltd. does not guarantee its completeness, accuracy, reliability and actuality. Past performance gives no indication of nor guarantees current or future results. Bank Syz Ltd. accepts no liability for any loss arising from the use of this document. Read More ## Related Articles [The week in seven charts](https://blog.syzgroup.com/fast-food-for-thought/tag/the-week-in-seven-charts) #### [Four years into the bull market](https://blog.syzgroup.com/fast-food-for-thought/four-years-into-the-bull-market?hsLang=en) Meanwhile, earnings growth, not valuation expansion, is doing the heavy lifting behind the S&P 500’s rally. Each week, the Syz investment team takes you through the last seven days in seven charts. **[Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/author/charles-henry-monchau?hsLang=en)** | 12/10/2026 [The week in seven charts](https://blog.syzgroup.com/fast-food-for-thought/tag/the-week-in-seven-charts) #### [Is France’s sovereign debt heading towards “junk” territory?](https://blog.syzgroup.com/fast-food-for-thought/is-frances-sovereign-debt-heading-towards-junk-territory?hsLang=en) Meanwhile, what does Anthropic’s $2tn valuation assume about future growth? Each week, the Syz investment team takes you through the last seven days in seven charts. **[Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/author/charles-henry-monchau?hsLang=en)** | 05/10/2026 [The week in seven charts](https://blog.syzgroup.com/fast-food-for-thought/tag/the-week-in-seven-charts) #### [The 10-year Treasury yield hits a 19-year high](https://blog.syzgroup.com/fast-food-for-thought/the-10-year-treasury-yield-hits-a-19-year-high?hsLang=en) Meanwhile, US earnings growth leaves the rest of the world behind. Each week, the Syz investment team takes you through the last seven days in seven charts. **[Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/author/charles-henry-monchau?hsLang=en)** | 28/09/2026 ## Straight from the Desk # Syz the moment Live feeds, charts, breaking stories, all day long. 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