For lack of opportunities, Berkshire Hathaway buys back its own shares
Berkshire Hathaway bought back 982 million USD of its own shares in the third quarter of 2018. Lack of investment opportunities has compelled the US holding to follow the buyout strategic approach.
In the same period, the net profit of the conglomerate jumped by 355%, reaching 18.5 billion USD. Revenues from the insurance activity, mainly generated by GEICO and General Re, amounted to 441 million USD. These results can be accounted for by the impact of the US tax reform and the Group's new accounting strategy which requires it to integrate its unrealized gains.
Having made no major buyback since 2016, Warren Buffet's company now has more than 100 billion USD to finance new acquisitions.
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