Berkshire Hathaway's cash fortress tops $300 billion as Buffett sells more stock, freezes buybacks

Published On Nov 2, 2024, 9:12 AM

Berkshire Hathaway has reported an impressive cash reserve of $325.2 billion, the highest in its history, largely due to Warren Buffett's decision to sell off significant shares in major holdings like Apple and Bank of America. This marks the fourth straight quarter of reducing its Apple stake and a notable exit from Bank of America since mid-July, from which it has earned over $10 billion. Furthermore, Berkshire did not repurchase any of its shares in Q3, contrary to its earlier buyback tendencies. The overall operating earnings fell slightly, amidst concerns regarding the broader fiscal and economic picture.

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Stock Forecasts

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Negative

Despite the strong cash position, Warren Buffett's decision to sell off major equity positions suggests a cautious outlook amid potential economic issues, particularly rising interest rates and inflation. There may be volatility surrounding Berkshire's stock as it adjusts to these market conditions.

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