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Berkshire's Q2 Cash Reserve Records First Drop in Three Years as Stock Market Investments Turn More Cautious
BlockBeats News, August 2nd: Berkshire Hathaway's (BRK.A.N, BRK.B.N) cash reserves decreased by 1% to $340 billion in the three months ending in June, the first decline in cash reserves in three years.
Prior to this, due to Buffett's difficulty in finding investment opportunities, the cash reserves repeatedly hit historical highs. In the second quarter, Buffett became more cautious about the stock market, with a net sale of approximately $3 billion in stocks, and even suspended Berkshire's stock buyback for four consecutive quarters—despite a 12% decline in the stock price since the CEO transition was announced in May. (Jinse Finance)
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