CNN —
Warren Buffett and Berkshire Hathaway extended their retreat from stocks in the third quarter, slashing their holdings in Apple and boosting cash to a record $325.2 billion.
Berkshire also reported a 6% decline in quarterly operating profit, largely the result of higher insurance underwriting liabilities including for Hurricane Helene, and currency losses from a strengthening U.S. dollar.
These offset improved profitability at the Geico car insurer, where accident claims and expenses fell. Profit also rose at the BNSF railroad, which shipped more consumer goods, and Berkshire Hathaway Energy, where operating expenses declined.
→ Continue reading at CNN - Business News
