An interesting side effect of investors' recent love affair with dividend stocks is that one of my very favorite stocks, Berkshire Hathaway (NYSE: BRK-A ) (NYSE: BRK-B ) , leaves many dividend-chasers cold because Warren Buffett & Co. hang onto all of the company's cash. As a fan of dividends myself, Berkshire is one of the few companies I'm willing to give a pass when it comes to payout. Why?

Simple, because I believe that Warren Buffett can find great opportunities -- in many cases, opportunities that I wouldn't have access to, like a special Goldman Sachs preferred stock -- to reinvest the money. And it's not like Buffett is against dividends -- Berkshire's public-stock portfolio is top-heavy with dividend payers like Coca-Cola, IBM, and Wells Fargo. I don't think that I'm going out on a limb if I say that it's unlikely we'll see a Berkshire dividend as long as Buffett is running the show.

Source: Motley Fool

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