After the last quarter's performance results of the legendary investor Warren Buffett's company Berkshire Hathaway were made public, it became clear that while the US indices were storming to new record levels, the mentioned company was intensively selling Apple and other stocks and the amount of free funds it had jumped significantly to a new absolute record level.
During the last quarter, the mentioned investment company's income reached 93.653 billion. dollars, while a year ago in the same period it amounted to 92.503 billion. dollars. Operating profit increased by 15.5 percent to 11.598 billion. dollars, and net profit, due to the fall in the net result of investment activities (from 25.869 to 18.75 billion dollars), fell by 15.8 percent to 30.498 billion dollars. dollars.
At the same time, it turned out that Warren Buffett's investment company sold its shares for the seventh quarter in a row, and in the last quarter alone they were sold for more than 75 billion. dollars (mostly due to a slightly more than 49 percent reduction in the share of Apple shares, and Bank of America shares are being sold intensively this quarter), so it is not surprising that the amount of free funds available, compared to the end of the first quarter, jumped from 189 to even 276.9 billion . dollars, which is a new absolute record level. In total, during the first half of this year, Berkshire Hathaway reduced the amount of shares held by even more than 90 billion. dollars. During the last quarter, shares were purchased for only 345 million. dollars, when in the previous two quarters – for 2 billion dollars.
"We would like to spend it, but we won't unless we think the business is doing something that has very little risk and can make us a lot of money." It's not like I'm on a hunger strike or anything like that. It's just… it's not attractive,” the investment icon said at Berkshire Hathaway's AGM in May.
In total, after the first half of this year, the mentioned investment company's income reaches 183.522 billion. dollars, when a year ago it amounted to 177.896 billion. dollars. Net profit fell from 71.956 to 43.33 billion. dollars, because from 53.308 to 20.23 billion the net result of investment activities fell by USD.
Berkshire Hathaway's Class A shares are up nearly seventeen percent this year, and Class B shares are up 18.2 percent, compared with 16.2 and 18.1 percent over the past one year, respectively.
