Warren Buffett Walks The Floor Ahead of the Berkshire Hathaway Annual ShareHolders Meeting in Omaha, Nebraska on May 3, 2024.
David A. Grogen | CNBC
Berkshire hathaway On saturday reported a massive surge in fourth -Quarter earnings from its operating businesses, driven in large part by Insurance, While Its Cash Holdings Swelled to Record Levels.
The Warren Buffett-LED Congress Operating Profit Months of 2024. Insurance Investment Investment Income also Balloned By Nearly 50% to $ 4.088 Billion.
Operating earnings also popped 27% for the full year, coming in at $ 47.437 billion.
“In 2024, Berkshire Did Better Than I Expected Thought 53% of our 189 operating businesses reported a decline in earnings. Improved and we substantically increase our holdings of these highly-Liquid Short-Term Securities, “Buffett, Chairman and CEO of Berkshire, Said in his annual letters to sharehole. “Our insurance business also delivered a Major Increase in Earnings, LED by the performance of geico.”
To be sure, berkshire warned that the wildfires that broke out in southern california will lead to an estimated Pre-tax loss of about $ 1.3 billion for its insurance business.
Cash Holdings Top $ 330 Billion
Berkshire Hathaway Ended 2024 with $ 334.2 Billion in Cash, Up from $ 325.2 Billion at the end of the third Quarter. This Fortress comes as buffett struggles to find his next big investment target.
In his annual letter, Buffett Defended The Large Cash Holdings.
“Despite what some commentators currently View as an extraordinary cash position at berkshire, The Great Majority of Your Money Remains In Equites. That Preferences Marketable Equites Moved Downward Last Year From $ 354 Billion to $ 272 Billion, The value of our non-quoted controved equities Increased somes Portfolio, “He said, adding that” berkshire sharehlders can rest assured that we will make we will Forever Deploy a Substantial Majority of his money in equities. “
Investments Gains Slowed Sharply in the Fourth Quarter to $ 5.167 Billion from $ 29.093 billion in the year-earlier. Indeed, Berkshire Pared Stock Investments during the year. Notable, it sold a chunk of its apple stake through 2024.
To be sure, berkshire always notes in its earrings that: “The Amount of Investment Gains/Lossess in any Given Quarter is usually meaningless and deliers fors for network Extremely Misleading to Investors Who Have Little or No Knowledge of Accounting Rules. “
The company’s class a shares popped more than 25% in 2024.
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