Warren Buffett's Berkshire Hathaway (BRK) once again posted impressive results
Warren Buffett's Berkshire Hathaway (BRK) once again posted impressive results. The company's fourth quarter profits rose nearly 10% year-over-year to $5 billion. Moreover, annual profits set a new record, reaching $19.5 billion. Meanwhile, BRK's cash stockpile climbed to over $48 billion. The strong results were led primarily by insurance and railroad holdings. Buffett's performance didn't beat the S&P 500's performance for the past 5-year period for the first time. However, 5 years is a relatively arbitrary period and doesn't match up with the current equity cycle - a point Buffett made in his annual report. Keep in mind, the S&P 500 was up over 30% last year, which definitely qualifies as an upside anomaly. Looking forward, Buffett said he may be looking at acquiring energy utilities. (VIEW LINK)
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