Buffett's investment moves are still watched closely by Wall Street.
There aren’t many people who turn 93 and have people wondering what’s next for them. But Warren Buffett, whose birthday is today, isn’t normal people.
Shares of Berkshire Hathaway climbed to a record high earlier this month after reporting that operating earnings rose more than 6% to $10 billion in the second quarter—marking a new record. Meanwhile, Berkshire’s cash pile swelled to nearly $150 billion, up from $130.6 billion in the prior quarter as the firm pared back stock positions.
But now cash is looking smart: Buffett revealed to CNBC earlier this month that he has been a consistent buyer of three- and six-month U.S. Treasury bills, which yield more than 5.5%. So great is the trust in Buffett that investors don’t seem to mind that Berkshire eased up on buybacks during the second quarter, repurchasing $1.4 billion worth of shares compared with $4.4 billion in the prior quarter, as the company’s stock climbed.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Berkshire Hathaway Inc. Cl B stock rises Tuesday, still underperforms marketShares of Berkshire Hathaway Inc. Cl B inched 0.77% higher to $358.29 Tuesday, on what proved to be an all-around positive trading session for the stock...
Read more »
Berkshire's Geico must face privacy lawsuit over driver's license disclosures By ReutersBerkshire's Geico must face privacy lawsuit over driver's license disclosures
Read more »
Berkshire Hathaway Inc. Cl B stock outperforms market on strong trading dayShares of Berkshire Hathaway Inc. Cl B inched 0.77% higher to $361.06 Wednesday, on what proved to be an all-around favorable trading session for the stock...
Read more »
Warren Buffett, who turns 93, is at the top of his game as he pushes Berkshire Hathaway to new heightsBerkshire shares have roared back to an all-time high on record operating profit, making it the biggest non-tech company by market capitalization.
Read more »
Rams without a kicker after paring down to 53-man rosterMore moves are obviously ahead as placekicker Tanner Brown is among those let go ahead of Tuesday’s deadline
Read more »
Hurricanes Idalia and Franklin set to disrupt travel plans ahead of Labor Day weekendLabor Day travelers, beware: Hurricanes Idalia and Franklin could make traveling this weekend more complicated, and more expensive.
Read more »