(Bloomberg) — Warren Buffett’s Berkshire Hathaway Inc. spent a record $5 billion buying back Berkshire’s own stock in the second quarter.Berkshire’s Class A shares, which fell in line with the S&P 500 in the first three months of the year as the pandemic spread in the U.S., fell another 1.7% last quarter while the broader index rallied 20%. Buffett said in May that repurchases weren’t more compelling, but the buybacks in the quarter suggest his thinking shifted.Key InsightsEven with buybacks that more than doubled the previous quarterly record, Berkshire’s cash pile kept growing and hit $146.6 billion. Buffett has struggled …read more
Source:: Yahoo Finance
