Berkshire CEO Greg Abel Is Sitting on More Than $360 Billion in Cash. Here's How His Deal-Making Approach Differs From Warren Buffett's.
Greg Abel is putting Berkshire Hathaway's massive cash pile to work.
Overview
Berkshire Hathaway (NYSE: BRKA)(NYSE: BRKB) ended June with roughly $365 billion in cash and U.S. Treasury bills. While that's less than the $380.2 billion three months earlier, it still leaves new CEO Greg Abel with an enormous amount of money to work with.
And this latest report makes it clear he's not shy about putting it to work.
Details
During the second quarter, Berkshire became a net buyer of stocks for the first time in 14 quarters, buying nearly $20 billion more than it sold. The company also, once again, spent a significant amount of cash buying back its own shares -- $4.5 billion.
Source
Originally published at www.fool.com.
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