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Buffett’s Berkshire Gets More Cautious on Stocks, Buybacks

Associated Press

Warren Buffett’s firm reports $12B profit before its meeting

Warren Buffett’s company reported a nearly $12 billion profit in the first quarter a year after a major loss when the value of its stock investments plummeted because of the coronavirus pandemic. Berkshire Hathaway said Saturday that it earned $11.7 billion, or $7,638 per Class A share, during the first quarter as the paper value of its investment portfolio rebounded. A year earlier, Berkshire reported losing $49.7 billion, or $30,653 per share.

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