Berkshire’s cash hoard grew to an all-time high, thanks in part to the holding company’s struggle to find a viable acquisition candidate in recent years. Cash increased to a record $188.99 billion in the first quarter, up from $167.6 billion in the fourth.
“We generated significantly higher earnings in insurance underwriting. “And then our investment income was almost certain to rise,” Buffett said Saturday at the conglomerate’s annual shareholder meeting in Omaha, Nebraska. “And I included it in the yearly report because yields are significantly greater than they were last year. And we have a large number of fixed, short-term investments that are highly responsive to interest rate changes.
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