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Buffett’s Successor at Berkshire Puts Mammoth Cash Pile to Work
['Sean Craig', 'Mon', 'August', 'At Pm Gmt', 'Min Read']
Yahoo Finance
With new-ish CEO Greg Abel more than seven months into the job, investors still appear to view Berkshire Hathaway as "Old Reliable."
On Saturday, Berkshire reported that it deployed $19.8 billion into the stock market in the second quarter, putting an end to three years of net selling.
But he was gentlemanly enough to leave Abel with a $369 billion pile of cash with which to blaze his own trail.
In the second quarter, Abel started putting it to use.
Berkshire also deepened its investment in Alphabet, buying a whopping $10 billion in shares.