Berkshire Hathaway, led by Warren Buffett, sold $13.3bn of stock and invested minimally in US equities in Q1 2023, citing a volatile market. The firm spent $4.4bn on repurchasing its own stock and $2.9bn on shares of other publicly traded businesses, highlighting the challenge of investing its significant cash reserves when valuations are unappealing. The company’s cash pile has grown to $130.6bn, its highest level since the end of 2021, indicating that it continues to struggle to put its money to work.
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Article Name
Berkshire Hathaway, Warren Buffett's firm, sells billions in US stocks
Description
Berkshire Hathaway, led by Warren Buffett, sold $13.3bn of stock and invested minimally in US equities in Q1 2023, citing a volatile market.
Author
Susan Jane
Publisher Name
Financial Times
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