In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche
Hence, BNY Mellon (NYSE: BK) can generate enormous amounts of cash. For example, Mellon reported a quarterly ending cash flow of $9.37 billion on 31 March 2021. The quarterly operating cash flow fell from $2.828 billion on 30 June 2021.
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I think Buffett buys BNY Mellon because it offers enormous amounts of cash and value for a cheap price.
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Intriguingly, Frank Fehrenbach; Mellon’s Senior Principal for Digital Partnerships, proposes the fractional tokenization of the property rights to big-ticket items like art works.
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