Warren Buffett's Successor, Greg Abel, Just Ended Berkshire Hathaway's 14-Quarter Selling Streak. Is This the Screaming Buy Signal Investors Have Been Waiting For?
For the first time in 3.5 years, Berkshire was a net buyer of stocks in the second quarter of the year.
Overview
Berkshire Hathaway (NYSE:BRKA)(NYSE:BRKB) just reported strong second-quarter earnings, with operating income rising over 16% year-over-year.
Notably, the company’s massive cash hoard declined from over $397 billion in the first quarter to $365.5 billion by the end of the second quarter, as CEO Greg Abel began putting cash to work.
Details
Even more interesting is that Berkshire was a net buyer of stocks in the second quarter. According to quarterly reports filed with the Securities and Exchange Commission, the large conglomerate purchased nearly $23.5 billion in stocks in the second quarter and sold only about $3.7 billion.
Source
Originally published at www.fool.com.