Warren Buffett raises Berkshire cash level to record $277 billion after slashing stock holdings
Publishing timestamp: 2024-08-03 13:40:37
Summary
Berkshire Hathaway's cash pile reached a record high of $276.9 billion in the last quarter as Warren Buffett sold off large portions of stock holdings, including Apple. Despite strong operating earnings, Buffett is cautious about deploying capital due to high prices in the market. The conglomerate has been selling stocks for seven consecutive quarters, with concerns about the economy and technology sector valuations. Geico and BNSF Railway performed well, but Berkshire Hathaway Energy saw a decline in earnings. Buffett advises investors to not focus on quarterly fluctuations in unrealized gains.
Sentiment: NEUTRAL
Keywords: earnings, omaha, breaking news: business, berkshire hathaway inc, apple inc, wall street, business news, warren buffett, breaking news: markets, investment strategy, markets, breaking news: investing, stock markets,
Source: https://www.cnbc.com/2024/08/03/berkshire-hathaway-earnings-2024-q2.html