• Home
  • Politics
  • Health
  • World
  • Business
  • Finance
  • Tech
  • More
    • Sports
    • Entertainment
    • Lifestyle
What's Hot

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Friday, May 9
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Security video shows brazen sexual assault of California woman by homeless man

    October 24, 2023

    Woman makes disturbing discovery after her boyfriend chases away home intruder who stabbed him

    October 24, 2023

    Poll finds Americans overwhelmingly support Israel’s war on Hamas, but younger Americans defend Hamas

    October 24, 2023

    Off-duty pilot charged with 83 counts of attempted murder after allegedly trying to shut off engines midflight on Alaska Airlines

    October 23, 2023

    Leaked audio of Shelia Jackson Lee abusively cursing staffer

    October 22, 2023
  • Health

    Disparities In Cataract Care Are A Sorry Sight

    October 16, 2023

    Vaccine Stocks—Including Pfizer, Moderna, BioNTech And Novavax—Slide Amid Plummeting Demand

    October 16, 2023

    Long-term steroid use should be a last resort

    October 16, 2023

    Rite Aid Files For Bankruptcy With More ‘Underperforming Stores’ To Close

    October 16, 2023

    Who’s Still Dying From Complications Related To Covid-19?

    October 16, 2023
  • World

    New York Democrat Dan Goldman Accuses ‘Conservatives in the South’ of Holding Rallies with ‘Swastikas’

    October 13, 2023

    IDF Ret. Major General Describes Rushing to Save Son, Granddaughter During Hamas Invasion

    October 13, 2023

    Black Lives Matter Group Deletes Tweet Showing Support for Hamas 

    October 13, 2023

    AOC Denounces NYC Rally Cheering Hamas Terrorism: ‘Unacceptable’

    October 13, 2023

    L.A. Prosecutors Call Out Soros-Backed Gascón for Silence on Israel

    October 13, 2023
  • Business

    Trump Announces First Post-Tariff Trade Deal

    May 8, 2025

    Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

    May 7, 2025

    Tyson Foods Announces It Will Bend The Knee To Trump Admin’s New Rules

    May 7, 2025

    Federal Reserve Holds Interest Rates Steady Despite Pressure From Trump

    May 7, 2025

    ‘Wait Them Out’: John Kennedy Tells Larry Kudlow One Lie He Suspects China’s Telling US

    May 7, 2025
  • Finance

    Ending China’s De Minimis Exception Brings 3 Benefits for Americans

    April 17, 2025

    The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

    April 17, 2025

    Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

    April 17, 2025

    How China’s Companies Are Responding to the US Trade War

    April 16, 2025

    The US Flip-flop Over H20 Chip Restrictions 

    April 16, 2025
  • Tech

    Cruz Confronts Zuckerberg on Pointless Warning for Child Porn Searches

    February 2, 2024

    FTX Abandons Plans to Relaunch Crypto Exchange, Commits to Full Repayment of Customers and Creditors

    February 2, 2024

    Elon Musk Proposes Tesla Reincorporates in Texas After Delaware Judge Voids Pay Package

    February 2, 2024

    Tesla’s Elon Musk Tops Disney’s Bob Iger as Most Overrated Chief Executive

    February 2, 2024

    Mark Zuckerberg’s Wealth Grew $84 Billion in 2023 as Pedophiles Target Children on Facebook, Instagram

    February 2, 2024
  • More
    • Sports
    • Entertainment
    • Lifestyle
Patriot Now NewsPatriot Now News
Home»Finance»Warren Buffett is trying to tell us something about the economy with Berkshire Hathaway’s earnings and the $147 billion of cash on hand
Finance

Warren Buffett is trying to tell us something about the economy with Berkshire Hathaway’s earnings and the $147 billion of cash on hand

August 6, 2023No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Warren Buffett is trying to tell us something about the economy with Berkshire Hathaway’s earnings and the $147 billion of cash on hand
Share
Facebook Twitter LinkedIn Pinterest Email

Warren Buffett can’t find bargains the way he used to. On Saturday, his Berkshire Hathaway reported its cash pile reached $147 billion while operating profits jumped 7% year-on-year to $10 billion in the second quarter.

That’s a solid performance, but the growing hoard of cash, nearing a record level, is an ongoing “problem” for the Oracle of Omaha—albeit a nice one to have. It suggests his conglomerate is struggling to find bargains in acquisitions or the stock market amid high valuations.

One way Berkshire has addressed this is by more aggressively pursuing stock buybacks, which it did to the tune of $1.4 billion in the second quarter over $4 billion in the previous quarter. But with Berkshire’s share price rising, that strategy—which Buffett once shunned—has grown less attractive.

As for the many business units under Berkshire’s umbrella—including in insurance, railroads, and utilities—Buffett warned at its annual meeting in May that the majority of them could falter this year amid higher prices. In the second quarter, however, most of them saw earnings rise, with BNSF Railway among the exceptions.

He also predicted in May that earnings at Berkshire’s insurance underwriting operations would improve, and indeed profits there jumped 74% to $1.25 billion in the second quarter. Its Geico unit, which struggled with unprofitability last year, recorded positive results for a second consecutive quarter, helped by higher average premiums and lower advertising costs.

In the first half of this year, Berkshire sold over $18 billion of stock on a net basis, whereas it bought $34 billion on a net basis last year. Buffett and his crew bought $5 billion worth of stocks in the quarter while selling close to $13 billion worth. The trimming of the stock market portfolio also contributed to the swelling cash pile.

See also  Vietnam Air, Boeing near $7.5 billion deal for 50 737 max planes

As for Fitch downgrading the U.S. credit rating this week from AAA to AA+, for which it’s been widely criticized, Buffett indicated that it won’t change anything about how Berkshire goes about its business.

“There are some things people shouldn’t worry about,” he told CNBC on Thursday. “This is one. The dollar is the reserve currency of the world, and everybody knows it.”

He added, “Berkshire bought $10 billion in U.S. Treasurys last Monday. We bought $10 billion in Treasurys this Monday. And the only question for next Monday is whether we will buy $10 billion in 3-month or 6-month.”

This story was originally featured on Fortune.com

More from Fortune:
5 side hustles where you may earn over $20,000 per year—all while working from home
Looking to make extra cash? This CD has a 5.15% APY right now
Buying a house? Here’s how much to save
This is how much money you need to earn annually to comfortably buy a $600,000 home

Berkshire Billion Buffett cash Earnings Economy Hand Hathaways Warren
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

‘Oracle of Omaha’: Warren Buffett Announces Retirement, Confirms Successor

May 4, 2025

China’s Export Economy Under Trump’s Tariff Onslaught The Worst Since COVID

April 30, 2025

US Economy Contracts In First Quarter Of 2025

April 30, 2025

$15 Billion And Climbing: Trump’s Tariffs Deliver Record High Revenue

April 25, 2025
Add A Comment

Leave A Reply Cancel Reply

Top Posts

3 Brands That Use Good Bacteria To Treat Acne

August 23, 2023

Target caves to conservative pressure to stock Mark Levin’s new book after saying title would offend some shoppers

July 7, 2023

Australia Bans Recreational Vaping in E-Cigarette Crackdown

May 4, 2023

Indonesia’s Rupiah Falls to Lowest Level Since Asian Financial Crisis

March 26, 2025
Don't Miss

Trump Announces First Post-Tariff Trade Deal

Business May 8, 2025

President Donald Trump announced Thursday the U.S. has reached a trade agreement with the U.K.,…

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025

Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

May 7, 2025
About
About

This is your World, Tech, Health, Entertainment and Sports website. We provide the latest breaking news straight from the News industry.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Categories
  • Business (4,110)
  • Entertainment (4,220)
  • Finance (3,202)
  • Health (1,938)
  • Lifestyle (1,626)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

Stocks making the biggest moves midday: TSLA, WAL, TGT

May 18, 2023

Ex-Austrian Chancellor Sebastian Kurz Charged for Lying to Parliament

August 22, 2023

The Australia-India Trade Agreement: The Start of Something More for India?  

September 28, 2023
Popular Posts

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025
© 2025 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.