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Buffett’s Berkshire tops profit forecasts despite trade drag, record cash

“Berkshire ended September with a record $128.2 billion of cash, despite repurchasing $700 million of stock in the quarter” writes Midwest Communications Inc for 95kqds.com. “The flip side is that Berkshire’s stock tends to do well when the economy softens.”. (Reuters) – Berkshire Hathaway Inc on Saturday said its quarterly operating profit rose more than analysts expected, as growth in several business lines offset the drag from trade tensions and tariffs and billionaire Warren Buffett’s inability to deploy the conglomerate’s cash.Nevertheless, float, a major driver of Berkshire’s growth that reflects insurance premiums collected before claims are paid, rose about $2 billion in the quarter to $127 billion.Buffett has gone nearly four years since making a major acquisition for Berkshire, whose stock price has lagged the broader market by the most since 2009.
 
Source: 95kqds.com



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