OMAHA,Nebraska — Billionaire investor, Warren Buffett, reported a $29 Billion 4th quarter profit for Berkshire Hathaway.
In his latest letter to investors, published on Saturday, Buffet praised the performance of Berkshire Hathaway whose portfolio includes the insurer Geico, the chemical maker Lubrizol, Fruit of the Loom underwear and more.
“Our unrivaled mountain of capital, abundance of cash and a huge and diverse stream of non-insurance earnings allow us far more investment flexibility than is generally available to other companies in the industry,” he wrote.
The annual report was accompanied by the latest assessment of Berkshire’s financial health: The company reported $81.4 billion for last year overall. Operating earnings, Mr. Buffett’s preferred measure of financial performance, declined slightly last year from 2018, to $24 billion.
Buffett said that Berkshire spent $5 billion buying back its own stock last year.