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Berkshire Hathaway’s Cautious Market Stance
Berkshire Hathaway (NYSE: BRK.A, BRK.B), led by CEO Warren Buffett, has maintained a cautious stance in the stock market, marking the twelfth consecutive quarter where its net equity selling surpassed buying. In the third quarter of 2023, the company purchased $6.4 billion in stocks while selling $12.5 billion, resulting in a net sell of $6.1 billion. Despite strong operational results, Berkshire refrained from repurchasing its shares for the fifth straight quarter.
The company’s cash reserves have reached a record $381.6 billion. During this period, its after-tax operating profit increased by 34% to $13.5 billion, with underwriting earnings jumping from $750 million to $2.4 billion, indicating a significant decline in claims. The Burlington Northern Santa Fe railroad division also reported nearly a 5% rise in earnings to $1.45 billion.
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