Reported 24 days ago
Berkshire Hathaway, led by Warren Buffett, significantly reduced its stock positions, notably in Apple and Bank of America, boosting cash reserves to a record $325.2 billion. Despite selling over $36 billion in stocks this quarter, the company's quarterly operating profit fell 6% to $10.09 billion due to underwriting losses from older insurance policies and claims related to Hurricane Helene. Analysts suggest the cautious cash accumulation reflects a 'risk-off' mindset amidst fears of an economic downturn or overvalued stocks.
Source: YAHOO