He repurchased just $6 billion of Berkshire stock, the lowest amount of buybacks since the middle of 2020, and was a net seller of other stocks for the third quarter in a row, according to the conglomerate’s second-quarter earnings released Saturday.
He’s been under pressure to do a large deal to help supercharge the company’s growth, but has come up short with well-priced and attractive options, leading Berkshire to spend even more funds buying back its stock.
Berkshire sold just $1.1 billion of other stocks during the period, on a net basis, the lowest amount of net sales in the past three quarters.
“It’s housekeeping,” Russo, who oversees $10 billion including investments in Berkshire shares at Gardner Russo & Quinn LLC, said in a phone interview.
In the quarterly report, Buffett, who will turn 91 later this month, gave no indications on how he was planning to put his cash pile to work.
Berkshire profit jumped about 21% to $6.7 billion during the period, driven by gains at its manufacturers, service companies and retailers.
At another unit, it had to shell out $160 million to help contain and respond to a fire at one of chemical maker Lubrizol’s facilities in Rockton, Illinois in June, it said.
The cryptocurrency space continues to be characterized by conversations surrounding its adoption and investment.
What tends to happen is that lots of folks, especially traders in Europe and many on Wall Street, go on extended vacations, so “air pockets” can materialize.
Barron’s Retirement is taking a summer break.
The benchmark KraneShares CSI China Internet ETF has fallen as much as 50% from its recent highs.
If you’re looking for stocks to buy and can’t stand the 15 minutes of fame portfolio manager Cathie Wood’s gotten for her investment management company, Ark Investment Management, you might want to buy the Short ARKK ETF when it becomes available.
Berkshire has used the excess cash thrown off from these and its other operations over the years to acquire Burlington Northern Santa Fe .
Sideways markets happen not because the stock market gods play an unkind joke on gullible humans but because of human emotions.
To be clear right off the bat, I have not been a big General Electric bull over the years.
August began with six straight months of market gains in the books and the peak of this earnings season in the rearview mirror.
stock market is nearing a top, according to a leading indicator that is based on the trailing three-month returns of the S&P 500 sectors.
“This court takes very seriously the prospect of disturbing the unanimous verdict of a duly empaneled jury,” but PMC’s “deliberate strategy of delay” was a “conscious and egregious misuse of the statutory patent system,” Gilstrap wrote.