Warren Buffett's Berkshire Hathaway delivered a stellar performance in 2024, surpassing the S&P 500's returns and achieving its best year since 2021. The company's success was fueled by robust operating earnings, strong investment income, and the insurance arm Geico's impressive turnaround.
Warren Buffett 's Berkshire Hathaway outperformed the S&P 500 in 2024 and pulled off its best year since 2021. Class A shares of the Omaha-based conglomerate rallied 25.5% last year, beating the S&P 500 's 23.3% return. Berkshire shares topped $700,000 during the year and posted their ninth positive year in a row. BRK.
A 1Y mountain Berkshire Hathaway The strong performance came even as the 'Oracle of Omaha' halted Berkshire's stock buyback program as the share price with the stock getting pricier and pricier. Instead, the conglomerate relied on solid operating earnings this year, supported by strong investment income and underwriting earnings within auto insurer Geico. $325 Billion Cash Interest and other investment income reached $8 billion in the first three quarters of 2024, compared to the prior year's $4.2 billion. A big factor was Berkshire's gigantic war chest — some $325 billion as of the end of September, nearly double the $168 billion level at the end of 2023. Higher interest rates, albeit off their peak, still enabled the conglomerate to earn a competitive return on the cash hoard. The legendary, 94-year-old investor amassed such a jaw-dropping amount of cash in 2024 by selling down his two largest holdings, Apple and Bank of America , a move that surprised many. He was in a selling mood for most of 2024, offloading $133 billion worth of stock in the first three quarters of the year. Winning Geico Geico, Berkshire's insurance crown jewel and what Buffett his called his 'favorite child,' continued its turnaround story in 2024. The insurer recorded an underwriting profit of $5.7 billion in the first three quarters of 2024, more than doubling the $2.3 billion total in the same period of 2023. As recently as 2022, Geico suffered a $1.9 billion pretax underwriting loss as it sacrificed market share to competitor Progressive due to the slow adoption of telematic
Berkshire Hathaway Warren Buffett S&P 500 Geico Investment Income Insurance Stock Buyback
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