Its wide-ranging portfolio of businesses, ranging from insurance to energy to consumer goods like See’s candies, generally fared better in the third quarter than in the same quarter a year earlier. And Berkshire’s cash stake swelled to a record $157.2 billion in the third quarter, when it sold $5.3 billion more stocks than it bought. Berkshire also slowed repurchases of its own stock, buying back $1.1 billion in the third quarter. Investors watch Berkshire closely because its results often reflect broader economic trends and because of Mr. Buffett’s reputation as a savvy investor. The third-quarter net loss more than quadrupled to $12.77 billion from about $2.8 billion a year earlier.

Source: Forbes November 04, 2023 14:52 UTC