Berkshire Hathaway's cash fortress tops $300 billion as Buffett sells more stock, freezes buybacks
Publishing timestamp: 2024-11-02 09:12:24
Summary
Berkshire Hathaway's cash pile surpassed $300 billion in the third quarter as Warren Buffett continued to sell stocks and refrained from repurchasing shares. The conglomerate's cash reserves reached a record $325.2 billion by the end of September, with Buffett selling off portions of his Apple and Bank of America holdings. Despite the selling spree, Berkshire did not buy back any company shares during the period. Buffett's conservative approach comes as the stock market has been performing well this year, with Berkshire's operating earnings slightly below analyst estimates.
Sentiment: NEUTRAL
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