INSUBCONTINENT EXCLUSIVE:
own stock.
The Omaha, Nebraska-based conglomerate repurchased $1.7 billion of shares as the stock dipped in the first quarter
That was more than the $1.3 billion that Berkshire, which historically has preferred using its cash on equities or acquisitions, spent all
of last year after relaxing its policy on buybacks.
Buffett has been prepping shareholders for the possibility of more stock buybacks, a
As Berkshire has grown into a $739 billion behemoth, the billionaire investor has found it harder to uncover attractive deals that move the
needle for the company.
Even with the buybacks, the pile of cash and United States Treasury bills climbed 2 percent to $114.2 billion in
the 2019 shareholder meeting later Saturday
The annual event in Omaha, Nebraska features hours of the billionaire answering investor questions on everything from company strategy and
succession to politics and life lessons.
Buffett did show this week that he can still find unique opportunities
Berkshire agreed to invest $10 billion in Occidental Petroleum Corp
The transaction, which hinges on Occidental winning its fight to buy Anadarko Petroleum Corp., would give Berkshire preferred stock and
warrants.
Outside of its own shares, Berkshire was a net seller of stocks in the first quarter, with sales and redemptions totaling $2.06
billion compared to purchases of $1.53 billion
quarter to $5.56 billion as the company benefited from gains at its railroad BNSF, its energy empire, and the manufacturing and retail
The railroad, which was significantly hit by severe winter weather and flooding, still posted a 9.4 percent climb in earnings partly due to
That was hurt by net losses in the reinsurance operations that were driven by a rise in estimated liabilities and a slump at Berkshire
Berkshire took a $2.7 billion hit in the fourth quarter from its Kraft Heinz stake.
Net income surged to $21.7 billion from a loss of $1.1
Unrealized gains and losses in the portfolio are counted toward net income under new accounting rules, which Buffett has bemoaned.