Berkshire Hathaway posts big loss in Q4, cash hoard swells to $130 bn

The Omaha, Nebraska-based firm found more value buying back its own shares, repurchasing $2.6 billion, and bought back about $700 million more in the first month-and-a-half of 2023

Warren Buffett’s Berkshire Hathaway on Saturday reported its highest-ever annual operating profit, even as foreign currency losses and rising interest rates contributed to lower earnings in the fourth quarter.

Buffett called 2022 a “good year” for Berkshire in his annual shareholder letter, after the conglomerate’s dozens of businesses generated $30.8 billion of profit despite rising inflation and supply chain disruptions, including from the war in Ukraine.

Berkshire also bulked up its cash hoard, ending the year with $128.6 billion after selling about $16.3 billion of stocks in the fourth quarter.

The Omaha, Nebraska-based firm found more value buying back its