Berkshire Hathaway ’s cash pile scaled a fresh record at $157.2 billion, bolstered both by elevated interest rates and a dearth of meaningful deals where billionaire investor Warren Buffett could put his money to work.
Its Class B shares crested a record high in September as investors sought out its diversified range of businesses as a hedge against deteriorating economic conditions. And while the shares pared some of those gains, the stock is still up almost 14% for the full year. Operating units The company operates and invests in all corners of the US economy, owning businesses including Geico, BNSF, Dairy Queen and See’s Candies, meaning investors view the company as a window into broader economic health.
What Bloomberg Intelligence Says: ADVERTISEMENT CONTINUE READING BELOW “Berkshire Hathaway’s results again demonstrated diversity of earnings power, boding well in uncertain macroeconomic conditions. Operating-company earnings of almost $10 billion were better than our core scenario as a rebound in Insurance, including favorable reserve trends and higher investment income, offset declining railroad earnings and energy litigation costs.
Source: News Formal (newsformal.com)
Berkshire Hathaway Cash Pile Record High Interest Rates Deals Warren Buffett Short-Term Treasuries Operating Earnings Insurance Businesses
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