In his annual letter to Berkshire shareholders, Buffett defended Berkshire’s foray into stocks, which comes amid a four-year drought since its last major acquisition that has left Berkshire sitting on $128 billion of cash. Berkshire did step up repurchases of its own stock, buying back roughly $2.2 billion in the quarter. “I am delighted with the increased commitment to share repurchases,” said Thomas Russo, a partner at Gardner, Russo & Gardner, which invests $13 billion, of which 13% is in Berkshire. …read more
Source:: Yahoo Finance
