Reported 29 days ago
Warren Buffett's Berkshire Hathaway revealed a 4% drop in operating profits last quarter, driven by currency-exchange losses and declining insurance profits. The company reported net sales of $3 billion in stocks, continuing a selling trend over the past 11 quarters. With a substantial cash reserve of $344 billion, Berkshire has refrained from stock repurchases and recorded a significant write-down in its investment in Kraft Heinz. As Buffett prepares to step down, analysts note that high stock valuations have limited new buying opportunities.
Source: YAHOO