قالب وردپرس درنا توس
Home / Business / Berkshire Hathaway's cash stack rises to $ 122 billion

Berkshire Hathaway's cash stack rises to $ 122 billion



Warren Buffett's industrial and insurance conglomerate closed the second quarter with a record $ 122 billion in cash, according to a profit report released on Saturday.

Buffett said he wanted to make a big acquisition, but in a letter to shareholders This year, prices were said to sky-high "for companies with good long-term prospects." Buffett said last year that his investment philosophy is to stick to "big," "simple" decisions and avoid activities. "

"said Trip Miller, Managing Partner at Gullane Capital," We hope that cash will serve him and his partners well when the market retreats. "

The company posted a slightly declining operational Result, in part due to lower underwriting income, with operating profit of $ 6.1
4 billion in the quarter ending in June, compared to $ 6.89 billion a year ago. 19659003] The net profit was $ 14 billion.

Berkshire [194559007] BERK also announced that Kraft Heinz's company has not received any financial reports for the first and second quarters, Kraft has filed its 10K filing with the US Securities and Exchange Commission for 2018, which Berksh ire led to a $ 34 million reduction in the book value of its power investment. Kraft is expected to release its first earnings on Aug. 8, as it announced a write-off of more than $ 15 billion last year on its Kraft and Oscar Mayer brands. Emagazine.credit-suisse.com/app/art … = 157 & lang = DE In May, Buffett called the news that Kraft had not released any financial data. Emagazine.credit-suisse.com/app/art … = 157 & lang = DE In the last quarter, Berkshire also has around US $ 442 million. Dollar repurchased, down from the $ 1.7 billion in the previous year 's first quarter.

Previously, the company did not allow share buybacks. The Board changed a rule last year that allows the company to repurchase billions of dollars worth of stock, a practice that has been criticized by some analysts as stock price inflation. In the first six months of this year, the company has repurchased $ 2.1 billion.

Warren Buffet is known as an investing guru who recommends diversification, and Berkshire certainly does not have all the eggs in one basket. As of June 30, Berkshire had $ 18.7 billion in American Express shares, $ 50.5 billion in Apple, $ 27.6 billion in Bank of America, and $ 40.3 billion in Coca -Cola worth $ 20.4 billion and Wells Fargo worth $ 20.5 billion.


Source link