Core Update on Berkshire Hathaway
Berkshire Hathaway, under CEO Greg Abel, ended a 14-quarter streak of net stock sales, recording net buying of $19.78 billion in the second quarter of 2023. The company purchased $23.47 billion in equity securities while selling $3.69 billion. Notably, a significant portion of these purchases involved the parent company of Google, Alphabet, suggesting a focused investment strategy rather than a broad endorsement of current stock market value.
As of June 30, Berkshire Hathaway’s cash reserves stand at $365.5 billion. This substantial cash pile, which has increased since the fourth quarter of 2022, highlights the company’s cautious approach amid what is perceived as high market valuations. The Buffett indicator, a key measure of market valuation, hit an unprecedented high of 234% in June, significantly above its historical average of 88%.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
