Berkshire Hathaway’s own shares were Berkshire’s big buy in the second quarter.
Yahoo Finance’s Editor-in-Chief Andy Serwer and Myles Udland discuss Berkshire Hathaway in Q2 results.
Berkshire Hathaway (BRK-A, BRK-B) released its quarterly results on Saturday morning.
Total revenue for the conglomerate hit $69.1 billion in the second quarter while earnings per share came in at $18,488 per Class A share.
But as has been the case for several years now, one of the biggest headlines to emerge from Berkshire’s results is the growing cash pile Warren Buffett’s company is sitting on. At the end of the quarter, Berkshire’s insurance and other businesses held cash, cash equivalents and Treasury Bills worth $140.7 billion. This is up from $138.1 billion at the end of the first quarter.
The primary use of Berkshire’s cash in recent years been to purchase equity securities and, specifically, repurchase shares of Berkshire Hathaway.
In the second quarter, the company spent $6 billion buying back its own stock after spending $6.6 billion on repurchases in the first quarter. As Bloomberg’s Katherine Chiglinsky notes, this most recent repurchase is the 4th-largest since Berkshire embarked on repurchases of its stock in 2018, after taking almost six years off from the practice.
In his most recent annual letter to Berkshire Hathaway shareholders, Buffett talked at length about share buybacks and the benefits this practice can confer on shareholders, using Berkshire’s stake in Apple (AAPL) and Apple’s own repurchase plan as an illustration of this dynamic.
“The math of repurchases grinds away slowly, but can be powerful over time,” Buffett wrote. “The process offers a simple way for investors to own an ever-expanding portion of exceptional businesses. And as a sultry Mae West assured us: ‘Too much of a good thing can be … wonderful.'”
For more on this article by Myles Udland please visit:
https://finance.yahoo.com/news/buffett-buys-back-berkshire-morning-brief-090337744.html
Watch the 2021 Berkshire Hathaway Annual Shareholders Meeting on YouTube:
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And valuations are way too high. Buffett was smart not to chase this market.
Fed is printing alot of money and Inflateing assets values. Market isnt overvalued its worth what people are willing to pay. In and the event it drops the fed will pump more capital into it and inflate it more. Buffett isn’t entering the market because it doesnt make since to him because of all the financial wizardry.
Said a lot but barely meaningful … sigh
Apparently, he is out of good ideas 🙂 let’s buy back some shares … or ….. time to buy some Tesla, more Palantir, and Square?
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Always enjoy Andy’s perspective. The real pros concentrate their holding; that’s where the money is made😎
good job, continue with battery cars and tesla with FSD, those make the world cold again, not hydrogen because it just makes it hotter, so then I have to get a suntan, also china needs the tesla loans paid, so forget the warming hype, and order now, I can tan 11 months of the year (maybe 1 month too cool for tanning)
BNSF is still a Berkshire behemoth, and it’s the ONLY class I without the BS precision system
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Frothy…lol.😁
AAPL Av. volume in decline?