Key Points
Warren Buffetts Berkshire Hathaway Inc. said its cash pile scaled a new record as the billionaire investor decried a lack of meaningful deals that would give the firm a shot at eye-popping performance...
The company also reported fourth-quarter operating earnings of $8.48 billion, versus $6.63 billion for the same period a year earlier, helped by an increase in insurance underwriting earnings and investment income amid higher interest rates and milder weather...
Despite ramping up Berkshires acquisition machine in recent years, the company has still struggled to find many of the big-ticket deals that burnished Buffetts reputation, leaving him with more cash than he and his investing deputies could quickly deploy...
That also makes the company particularly susceptible to higher interest rates, which can crimp demand, and Buffett warned in May last year that earnings at most of its operations would fall in 2023 as an incredible period for the US economy draws to an end...
Including investment and derivatives, Berkshire posted $37.6 billion of net earnings for the quarter, more than the year prior, helped by higher interest rates..
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