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☆ Even Warren Buffett thinks his stock is too expensive
▼ + stars: | 2024-11-05 | by ( John Towfighi | ) edition.cnn.com time to read: +3 min

CNN —Warren Buffett’s Berkshire Hathaway has over $325 billion in cash on hand. Berkshire Hathaway was a net seller of stocks across its portfolio that quarter and grew its cash-on-hand to record amounts. Berkshire Hathaway’s actions signal to investors that its stock might be overvalued, Cathy Seifert, an analyst at CFRA Research, told CNN. Buffett will repurchase shares when he thinks the price is “below Berkshire’s intrinsic value, conservatively determined,” according to Berkshire Hathaway’s regulatory filings. “All this suggests that Buffett has serious concerns about the economic backdrop and the current state of the stock market,” Mould said in a note.

Persons: CNN — Warren, Berkshire Hathaway, Buffett, Cathy Seifert, they’re, ’ ” Seifert, He’s, ” Robert Korajczyk, Aswath, “, ” Damodaran, “ They’ve, Russ Mould, AJ Bell, ” Mould, ” Korajczyk Organizations: CNN, Berkshire, Securities, Exchange, CFRA Research, Buffett, Berkshire Hathaway’s, Northwestern’s Kellogg School of Management, NYU Stern School of Business Locations: Berkshire, “, ”, —

☆ Warren Buffett’s Berkshire Hathaway sold nearly half its stake in Apple
▼ + stars: | 2024-08-03 | by ( Yun Li | ) www.nbcnews.com time to read: +3 min

Warren Buffett’s Berkshire Hathaway dumped nearly half of its gigantic Apple stake last quarter in a surprising move for the famously long-term-focused investor. Even after the selling Apple remains the largest stock stake by far for Berkshire. Buffett had trimmed the Apple stake by 13% in the first quarter and hinted at the Berkshire annual meeting in May that it was for tax reasons. Berkshire’s Apple holding was once so big that it took up half of its equity portfolio. Berkshire began buying the stock in 2016 under the influence of Buffett’s investing lieutenants Ted Weschler and Todd Combs.

Persons: Warren, Berkshire Hathaway, Buffett, Ted Weschler, Todd Combs Organizations: Apple, Oracle, Berkshire, U.S, Apple . Berkshire, Bank of America, Buffett Locations: Omaha, Berkshire, U.S

☆ Warren Buffett’s Berkshire Hathaway cuts stake in Apple by nearly 50%
▼ + stars: | 2024-08-03 | by ( Robert Ilich | ) edition.cnn.com time to read: +1 min

CNN —Warren Buffett’s Berkshire Hathaway slashed its stake in tech giant Apple by nearly 50%, according to Berkshire’s second quarter earnings report released on Saturday. Berkshire Hathaway disclosed its holdings in Apple were valued at $84.2 billion at the end of the quarter, dropping from 790 million shares to 400 million shares. Berkshire Hathaway has previously downsized its stake Apple, which has a market cap over $3.3 trillion. In the final three months of 2023, Berkshire Hathaway sold off 10 million shares of Apple stock, representing about 1% of its holdings in the company. Along with Apple, Berkshire cut its stake in its second largest position, Bank of America, to $41.1 billion.

Persons: CNN — Warren, Berkshire Hathaway, Buffett Organizations: CNN, Berkshire, Apple, Bank of America, American Express, Chevron Locations: Apple, Berkshire, Omaha , Nebraska

☆ This AI play is about to pass Warren Buffett’s Berkshire Hathaway in market value
▼ + stars: | 2024-06-20 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Once-obscure chipmaker Broadcom has enjoyed a record-setting rally that's pushed its market capitalization inches behind Warren Buffett's Berkshire Hathaway conglomerate and its portfolio of household names and economic bellwethers. When Broadcom hit an all-time high earlier this week, its market capitalization briefly surpassed drug maker Eli Lilly's. As of Tuesday's close, Broadcom had a market cap of $839 billion, right behind Eli Lilly's $845 billion and Berkshire's $882 billion. Omaha-based Berkshire is currently No.7 in market value, after a cluster of megacap technology giants. Big AI beneficiary Broadcom, meanwhile, is seeing strong demand from customers in need of high-capacity chips that can power complex AI applications.

Persons: that's, Warren Buffett's, Eli Lilly's, Hock Tan, Steve Sosnick, Tesla, Morgan Stanley Organizations: Broadcom, Warren, Warren Buffett's Berkshire Hathaway, Apple, Berkshire, BNSF Railway, Geico Insurance, U.S ., PetroChina, Bank of America, Interactive Brokers, VMware Locations: Palo Alto , California, Omaha, Berkshire, U.S, Saudi Aramco

☆ Warren Buffett’s Berkshire Hathaway dumps BYD shares following rise in trade tension over Chinese EVs
▼ + stars: | 2024-06-18 | by ( Laura He | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —Warren Buffett’s Berkshire Hathaway has further cut its large stake in BYD, which vies with Tesla as the world’s largest electric car (EV) maker, as global trade tensions escalate over Chinese EVs. The sale was valued at 310.5 million Hong Kong dollars ($40 million). BYD shares had closed at a record high in June of that year. In 2008, Berkshire spent $230 million in buying BYD shares at an average of HK$8 ($1.02) apiece. Berkshire still holds 75.7 million Hong Kong-listed shares of BYD, which were worth about 17.6 billion Hong Kong dollars ($2.3 billion) by Tuesday.

Persons: Hong Kong CNN — Warren, Berkshire Hathaway, Tesla, Buffett, Daniel Acker, Biden, Wang Chuanfu, Elon Musk’s Tesla, didn’t, Charlie Munger, Munger “, ” Organizations: Hong Kong CNN, Hong Kong, Berkshire, Bloomberg, Getty, European Union, European Commission, EU, EV, HK, CNN Locations: China, Hong Kong, BYD, European, Europe, Beijing, United States, Shenzhen, Berkshire

☆ Warren Buffett’s Berkshire Hathaway trims its stake in Chinese EV maker BYD to 6.9%
▼ + stars: | 2024-06-17 | by ( Yun Li | ) www.cnbc.com time to read: 1 min

Warren Buffett speaks during the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska, on May 4, 2024. Berkshire Hathaway, an early investor in BYD thanks to the late Charlie Munger, continued to trim its massive stake in China's biggest electric vehicle maker. Warren Buffett's conglomerate has sold an additional 1.3 million Hong Kong-listed shares of BYD for $39.8 million, according to a filing to the Hong Kong Stock Exchange. The conglomerate first bought about 225 million shares of Shenzhen-based BYD in 2008 for about $230 million. The bet turned out to be extremely lucrative as the EV market saw explosive growth in China and elsewhere.

Persons: Warren Buffett, Berkshire Hathaway, Charlie Munger, Warren Buffett's Organizations: Berkshire, Hong Kong Stock Exchange Locations: Omaha , Nebraska, Hong Kong, BYD, Shenzhen, China

☆ Warren Buffett’s Berkshire Hathaway reveals insurer Chubb as confidential stock it’s been buying
▼ + stars: | 2024-05-15 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Insurer Ace Limited acquired the original Chubb in 2016 for $29.5 billion in cash and stock, and the combined company adopted the Chubb name. His conglomerate Berkshire Hathaway has bought nearly 26 million shares of Zurich-based Chubb for a stake worth $6.7 billion. Warren Buffett finally revealed his secret stock pick in a new regulatory filing, and it's insurer Chubb . Mystery unveiledBerkshire has been keeping this purchase secret for three quarters straight. Berkshire was granted confidential treatment to keep the details of one or more of its stock holdings confidential.

Persons: Warren Buffett, Chubb, Evan Greenberg, Maurice Greenberg Organizations: Berkshire, Ace, American International, Berkshire Hathaway, Alleghany, Chevron, Verizon Locations: Omaha , Nebraska, Zurich, The Omaha, Berkshire, Markel, Omaha

☆ Warren Buffett finally reveals the mysterious company he’s invested billions of dollars in
▼ + stars: | 2024-05-15 | by ( Samantha Delouya | ) edition.cnn.com time to read: +2 min

CNN —The mystery is over: Warren Buffett’s Berkshire Hathaway disclosed a major stake in the insurance company Chubb, finally revealing the investment he has kept under wraps since last year. Berkshire revealed it acquired nearly 26 million shares of Chubb in a Wednesday Securities and Exchange Commission filing of the company’s first quarter investments. Buffett, Berkshire’s CEO famous for his investing prowess, has amassed a sizable following of investors who mimic his portfolio moves. The investment in Chubb underscores Berkshire Hathaway’s investment strategy over the past several months. Berkshire also sold 80 million shares of printer company HP in the fourth quarter of 2023, reducing its holdings by 78%.

Persons: Warren Buffett’s Berkshire Hathaway, Chubb, Donald Trump’s, Jean Carroll’s, Buffett, Berkshire’s, Buffett’s, Berkshire Hathaway, Nicole Goodkind Organizations: CNN, Wednesday Securities, Exchange Commission, SEC, Berkshire Hathaway’s, Insurance, Indemnity, American Express, Bank of America, Apple, HP Locations: Berkshire

☆ Warren Buffett’s Real Estate Brokerage Agrees to $250 Million Settlement
▼ + stars: | 2024-04-26 | by ( Debra Kamin | ) www.nytimes.com time to read: +1 min

HomeServices of America, the largest residential real estate brokerage in the United States and owned by Warren E. Buffett’s Berkshire Hathaway Energy, has agreed to settle a series of lawsuits that could change the way commissions are paid to real estate agents. On Thursday, the brokerage signed off on adding $250 million to the mounting pile of damages won by home sellers who have successfully sued several brokerages and the National Association of Realtors over what they described as inflated commissions. That settlement received preliminary approval from a federal judge on Tuesday, and now N.A.R. will pay $418 million in damages and significantly change its rules on agent commissions and the databases, accessible only by those who hold membership to N.A.R. The settlement will introduce competition to the market for real estate commissions, driving down the fees that consumers are required to pay when selling a home and eventually lowering home prices across the board as a result, some industry analysts say.

Persons: Warren E Organizations: Warren, Berkshire Hathaway Energy, National Association of Realtors, The New York Times, Industry Locations: America, United States

☆ Premarket stocks: Warren Buffett’s favorite indicator is flashing red
▼ + stars: | 2024-03-27 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN —The “Buffett Indicator” is flashing red. If the stock market is growing a lot faster than the economy, that could be a sign of a bubble. Yes, but: The so-called Buffett Indicator is not without flaw. By the closing bell, Trump Media ended at $57.99, up by a more modest 16% on the day. He said Trump Media is likely worth somewhere around $2 a share — nowhere near its closing stock price of $58.

Persons: Warren Buffett, Fortune Magazine “, Berkshire Hathaway, John Hussman, Hussman, Larry Summers, “, ”, Louis Navellier, Goldman Sachs, Navellier, doesn’t, Buffett, they’re, Jamie Dimon, Kevin Gordon, Charles Schwab, Elisabeth Buchwald, Donald Trump’s, CNN’s Matt Egan, Jay Ritter, Ritter Organizations: CNN Business, Bell, New York CNN, Fortune Magazine, Nvidia, Federal Reserve, Bloomberg, Navellier, Associates, “, JPMorgan, CNBC, CNN, Visa, Mastercard, Court, Eastern, of, National Retail Federation, Trading, Trump Media & Technology Group, Trump Media, University of Florida’s Warrington College of Business, GameStop, AMC Locations: New York, of New York

☆ UBS says Warren Buffett’s Berkshire Hathaway will top $1 trillion in market value in next 12 months
▼ + stars: | 2024-02-28 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Warren Buffett's Berkshire Hathaway is firing on all cylinders with a $1 trillion market value in sight, according to UBS. Analyst Brian Meredith hiked his 12-month price target on the Berkshire Class A shares to $715,000 from $655,000, and Class B shares to $477 from $435. BRK.A 1Y mountain Berkshire Hathaway Berkshire on Saturday reported a 28% jump in operating earnings in the fourth quarter due to huge gains in its insurance business. Meanwhile, Berkshire's reinsurance and primary insurance operations continued to look solid and benefit from the current market environment, UBS said. The conglomerate recently touched consecutive record highs, trading above $647,000 for Class A shares at its peak and boasting a market value above $900 billion.

Persons: Warren, Berkshire Hathaway, Brian Meredith, Meredith, BRK, Geico Organizations: UBS, Berkshire Class, Insurance, Berkshire Hathaway Berkshire, BNSF Locations: Omaha, Berkshire

☆ Can Buffett’s Berkshire make the $1 trillion milestone? Analysts weigh in
▼ + stars: | 2024-02-26 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Wall Street analysts have a cautious view on Berkshire Hathaway , though they praised a solid earnings report over the weekend from Warren Buffett 's conglomerate. Berkshire also said its cash rose to a record $167.6 billion, topping its prior high of $157.2 billion held in the previous quarter. Berkshire's stock initally rose in trading on Monday, with both classes hitting all-time highs intraday, and bringing the conglomerate closer to a $1 trillion valuation. BRK.A YTD mountain Berkshire Hathaway Class A However, many Wall Street analysts are wary on Berkshire, with many expecting that the stock is fairly valued as much of the strength is already priced into the stock. Berkshire's solid earnings reflected outperformance in auto insurer Geico, but the results were dinged by lower earnings in utilities and energy.

Persons: Berkshire Hathaway, Warren Buffett, FactSet, Edward Jones, James Shanahan, Keefe, Woods, Meyer Shields, Shields, Brian Meredith, CFRA's Catherine Seifert, Buffett, Michael Bloom Organizations: Berkshire Hathaway, Wall, UBS Locations: Berkshire, Omaha

☆ Warren Buffett’s Berkshire Hathaway sells off some Apple stock
▼ + stars: | 2024-02-15 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +3 min

New York CNN —Warren Buffett’s Berkshire Hathaway sold off 10 million shares of Apple stock in the final three months of 2023, representing about 1% of its holdings in the company. Berkshire still owns more than 905 million shares of the company, worth about $174 billion. That represents 6% of all Apple shares and one-fifth of Berkshire’s entire portfolio. Shares of Berkshire Hathaway were 0.7% higher. More to comeFilings also showed that Berkshire sold 80 million shares of printer company HP in the fourth quarter of 2023, reducing its holdings by 78%.

Persons: New York CNN — Warren, Berkshire Hathaway, ”, Buffett, ” he’s, “, Tim Cook, Charlie Munger Organizations: New, New York CNN, Apple, Oracle, Securities and Exchange Commission, Berkshire, Apple Apple, HP, Paramount Locations: New York, Omaha, Berkshire, China

Kelly Toys and its Berkshire Hathaway -controlled parent company Jazwares have sued Build-A-Bear, saying its new “Skoosherz” toys copy the look and feel of their mega-popular Squishmallows products. Jazwares is seeking unspecified damages and for Build-A-Bear to stop selling Skoosherz products. It wants a declaratory judgement saying that the Squishmallow maker’s claimed trade dress rights are invalid and unenforceable. “If each aspect of the claimed trade dress were in fact protected trade dress, it would be virtually impossible for competitors to create alternative designs," Build-A-Bear added. It was the first time the plush products were offered to shareholders since Berkshire bought Alleghany in 2022 for $11.6 billion.

Persons: Kelly Toys, copycats, Moez, Kelly, Jazwares, Skoosherz, maker’s, Squishmallows, Kim Kardashian, Lady Gaga, ” Skoosherz, Warren Buffett’s Berkshire Hathaway, Buffett, Charlie Munger, Josh Funk Organizations: Berkshire Hathaway, Alleghany Corp, Berkshire, Associated Locations: Squishmallows, St, Louis, U.S, California, Missouri, Omaha , Nebraska, Berkshire’s, Alleghany

KNOXVILLE, Tenn. (AP) — Warren Buffett’s Berkshire Hathaway is buying the remaining 20% of the Pilot truck stop business it does not already own from the Haslam family, the two announced on Tuesday. Berkshire confirmed it now owns all of Pilot Travel Centers. The sale follows the settlement of a lawsuit earlier this month that pitted Cleveland Browns owner Jimmy Haslam against Buffett’s Berkshire over the Pilot stake's value. The 2017 agreements also gave Pilot Corp. an annual 60-day opportunity, beginning Jan. 1 this year, to sell its remaining 20% interest in PTC to Berkshire. The sale price would be calculated using PTC’s earnings in the prior year.

Persons: — Warren, Berkshire Hathaway, Haslam, Jimmy Haslam, Jim Haslam II Organizations: . Berkshire, Travel Centers, Cleveland Browns, Buffett’s Berkshire, Berkshire, PTC, Pilot Corp, Wilco Locations: KNOXVILLE, Tenn, Berkshire, Knoxville , Tennessee, U.S, Gate City , Virginia

☆ Private-asset binge exposes insurance to new risks
▼ + stars: | 2023-11-30 | by ( John Foley | ) www.reuters.com time to read: +7 min

The concept is not new: Warren Buffett’s Berkshire Hathaway (BRKa.N) has used its insurance premiums to help fund everything from railways to cowboy-boot makers. The prospect of insurance companies buying risky loans or private equity investments has raised eyebrows. Many private credit assets, for example, rely on so-called private letter ratings based on confidential data. Given the private nature of private credit, it’s hard to see from the outside how big these risks are, or where they lurk. Besides, even if the share of life insurance assets that are mis-rated or undercapitalized is tiny, smaller insurers could carry more concentrated risk.

Persons: Blackstone, Warren Buffett’s Berkshire Hathaway, Fitch, Kroll, Egan, Jones, DBRS Morningstar, Banks, SVB, Jonathan Guilford, Neil Unmack, Peter Thal Larsen, Oliver Taslic Organizations: Reuters, Apollo Global Management, KKR, Global Atlantic, Investments, National Association of Insurance, England’s Everton FC, Rivals, Reuters Graphics Reuters, Federal Reserve, Federal Deposit Insurance Corp, Athene, P Global, Insurance, SVB, Thomson Locations: Global, Delaware , New York, Iowa, New York, London

The Haslams' lawyers and a representative for the family didn't immediately respond to requests for comment. A senior executive who had been promised a bonus revealed that to the current Pilot CEO, who Berkshire appointed after it took over, according to the filing. Berkshire initially bought 38.6% of Pilot back then for $2.758 billion before more than doubling that to 80% this year for an additional $8.2 billion. Pilot is the nation’s largest network of truck stops with more than 850 locations and roughly 30,000 employees in the United States and Canada. Berkshire said it's impossible to calculate how much Pilot's profits may have been inflated this year because of decisions executives who were promised bonuses made.

Persons: — Warren, Berkshire Hathaway, Haslam, Jimmy Haslam, Bill Haslam —, Berkshire, Jim Haslam — Jimmy, Bill Haslam's, —, Buffett Organizations: Cleveland Browns, Berkshire, BNSF, Apple, American Express, Bank of America Locations: OMAHA, Neb, Berkshire, Tennessee, Knoxville , Tennessee, United States, Canada

☆ Warren Buffett Is Going Big, Not Home, in Japan
▼ + stars: | 2023-11-21 | by ( Jacky Wong | ) www.wsj.com time to read: 1 min

Warren Buffett’s Berkshire Hathaway has been tapping the Japanese market quite frequently. Photo: Scott Morgan/ReutersJapanese stocks are hovering around 33-year highs. Foreign inflows lured by better earnings and corporate governance reform have been a key driver. Breadcrumbs dropped by the oracle of Omaha are another. Warren Buffett , whose Berkshire Hathaway moved aggressively into Japanese shares in recent years, may be about to push further into the market.

Persons: Warren, Berkshire Hathaway, Scott Morgan, Breadcrumbs, Warren Buffett Organizations: Reuters Locations: Omaha, Berkshire

☆ Warren Buffett’s Berkshire Hathaway Sheds Investments in GM, J&J and P&G
▼ + stars: | 2023-11-15 | by ( Karen Langley | ) www.wsj.com time to read: 1 min

Attendees arrive at the Berkshire Hathaway annual meeting in Omaha, Neb. Photo: David Williams/Bloomberg NewsWarren Buffett ’s Berkshire Hathaway eliminated its stake in a handful of American blue chips, including General Motors and Johnson & Johnson , while the stock market’s rally sputtered in the third quarter. The company also sold off smaller positions in Procter & Gamble , Mondelez International and United Parcel Service , while trimming its investments in Amazon.com , Chevron and HP, among others.

Persons: David Williams, Bloomberg News Warren Buffett ’, Berkshire Hathaway, Johnson Organizations: Berkshire Hathaway, Bloomberg News, Berkshire, General Motors, Johnson, Procter, Procter & Gamble, Mondelez International, United Parcel Service, Chevron, HP Locations: Omaha, Neb, Procter &

☆ Warren Buffett’s Berkshire Hathaway sold all of its GM stock
▼ + stars: | 2023-11-15 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +3 min

New York CNN —Warren Buffett’s Berkshire Hathaway unloaded its entire $850 million worth of General Motors (GM) stock last quarter, according to a Securities and Exchange Commission filing. Overall, Berkshire Hathaway was a net seller of stocks last quarter: The firm sold about $7 billion worth of stock and bought $1.7 billion. In the past year, the company has sold about $40 billion worth of stock. Earlier this month, Berkshire Hathaway reported that its bets abroad have also paid off. Shares of Berkshire Hathaway are up about 15.8% year to date.

Persons: New York CNN — Warren, Berkshire Hathaway, Johnson, Buffett, ” Buffett, Charlie Munger Organizations: New, New York CNN, General Motors, Securities and Exchange Commission, Amazon, HP, Chevron, Procter, Gamble, UPS, Mondelez, Johnson, Sirius XM, Sirius, . Berkshire, Fitch, AAA, CNBC, Berkshire Locations: New York, Omaha, Berkshire, .

☆ Warren Buffett’s Berkshire trimming holdings, keeping new stock secret
▼ + stars: | 2023-11-14 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Warren Buffett's Berkshire Hathaway sold a number of stocks last quarter during the volatile market, according to a new regulatory filing. The Omaha-based conglomerate dumped its remaining $780 million stake in General Motors , a stock Berkshire has been trimming for a few quarters. Berkshire also sold its $650 million stake in materials company Celanese , while exiting smaller positions in United Parcel Service , Johnson & Johnson , Mondelez International and Procter & Gamble. These holdings were still worth more than $1 billion each at the end of September, however. Berkshire has also asked the SEC to keep the details of one or more of its stock holdings confidential.

Persons: Warren, Berkshire Hathaway, Johnson, Todd Combs, Ted Weschler, Apple, Kraft Heinz, Moody's, Buffett Organizations: General Motors, United Parcel Service, Johnson, Mondelez International, Procter, Gamble, HP, Chevron, Berkshire, Bank of America, American Express, SEC Locations: Omaha, Berkshire

☆ Insurers can underwrite dirty energy with impunity
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +2 min

LONDON, Nov 9 (Reuters Breakingviews) - Insurers used to get heat for underwriting fossil fuels. Membership of bodies like the Net-Zero Insurance Alliance (NZIA) was supposed to mean financial groups would cease supporting oil, gas and coal, speeding the pace of decarbonisation. Similarly, five of the Lloyd’s insurance market’s managing agents – RiverStone, Chaucer, RenaissanceRe, Ascot and Aegis – have not implemented any restrictions on fossil fuels. Insurers have even fewer qualms about supporting oil and gas. Governments have made energy security a key priority since Russia’s invasion of Ukraine, and can reasonably argue that abrupt halts to backing fossil fuels will just mean higher energy prices.

Persons: Warren, Berkshire Hathaway, Starr don’t, – RiverStone, Chaucer, Insuramore, Pamela Barbaglia, George Hay, Oliver Taslic Organizations: Reuters, Zero Insurance, Axa, Everest, Aegis, Reuters Graphics, X, Bayer, SEC, Paramount, Thomson Locations: Zurich, PICC, RenaissanceRe, Ascot, Ukraine

☆ Warren Buffett’s Berkshire Hathaway Sits on Record $157 Billion Cash Pile
▼ + stars: | 2023-11-04 | by ( Karen Langley | ) www.wsj.com time to read: 1 min

Warren Buffett says operating earnings—which exclude some investment results, rose to $10.8 billion from $7.7 billion last year—are a better gauge of the company’s performance. Photo: John Peterson/Associated PressWarren Buffett’s Berkshire Hathaway ended the third quarter with a record cash pile and reported a deeper net loss due to the sputtering stock market rally. The famed investor’s Omaha, Neb., company wrapped up the third quarter with a record $157.2 billion in cash and equivalents, up from $147.4 billion at the end of the second quarter and eclipsing the previous record of $149.2 billion that was set two years ago.

Persons: Warren Buffett, John Peterson, Associated Press Warren, Berkshire Hathaway Organizations: Associated Press Locations: Omaha, Neb

☆ Berkshire Hathaway posts 40% surge in operating earnings and record cash
▼ + stars: | 2023-11-04 | by ( Krystal Hur | ) edition.cnn.com time to read: +3 min

New York CNN —Warren Buffett’s Berkshire Hathaway on Saturday reported a surge in third-quarter operating earnings and record-high cash pile of $157 billion in the period. Berkshire reported a net loss of $12.8 billion, compared to a loss of $2.8 billion during the same period last year. Berkshire bought back about $1.1 billion in stock during the third quarter, bringing the nine-month total to approximately $7 billion in stock repurchases so far this year. “It was like having God just opening a chest and just pouring money into it,” Charlie Munger, vice chair of Berkshire Hathaway, said of the investments in an interview with the Acquired podcast released in October. Berkshire Hathaway Class A shares are up 13.9% for the year as of Friday’s close, underperforming the benchmark S&P 500.

Persons: New York CNN — Warren, Berkshire Hathaway, Buffett, ” Buffett, Charlie Munger Organizations: New, New York CNN, Berkshire, Fitch, AAA, CNBC, Treasury, Federal Reserve, Berkshire Hathaway Locations: New York, Berkshire, Omaha , Nebraska

☆ Pipeline operator Enbridge Inc will buy three natural gas utilities from Dominion Energy for $9.4 billion
▼ + stars: | 2023-09-05 | by ( Samantha Delouya | ) edition.cnn.com time to read: +1 min

CNN —Canadian pipeline operator Enbridge Inc. announced Tuesday that it plans to acquire three gas distribution companies from Dominion Energy. The deal is valued at $14 billion, including $9.4 billion in cash and $4.6 billion in debt, and will create North America’s largest natural gas utility platform, according to Enbridge. Enbridge will buy three of Dominion’s gas utilities: The East Ohio Gas Company, Public Service Company of North Carolina, Incorporated, and Questar Gas Company, which serve about 3 million homes and businesses. “Adding natural gas utilities of this scale and quality, at a historically attractive multiple, is a once in a generation opportunity,” Enbridge CEO Greg Ebel said in a statement. “These businesses and employees have been an integral part of the Dominion Energy team, which is why we approached this decision with careful and deliberate consideration,” Dominion Energy CEO Robert Blue said in a statement about the company’s agreement with Enbridge.

Persons: Enbridge, ”, Greg Ebel, Dominion, Warren Buffett’s, Robert Blue Organizations: CNN, Canadian, Enbridge Inc, Dominion Energy, Dominion, East Ohio Gas Company, Public Service Company, Questar Gas Company, Warren, Warren Buffett’s Berkshire Hathaway Energy, ” Dominion Energy, Enbridge Locations: Enbridge, Richmond , Virginia, Calgary, Canada, United States, North Carolina

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