🚨 Berkshire Hathaway’s operating earnings climbed 16% in the second quarter as strength across its energy, railroad and manufacturing businesses more than offset weaker insurance results.The bigger takeaway from the results is that CEO Greg Abel, 64, is starting to put the record cash hoard amassed by Warren Buffett to work on buybacks and stock purchases. Operating earnings rose to $12.98 billion from $11.16 billion a year earlier. Manufacturing, service and retailing earnings jumped 24% to $4.47 billion, while Berkshire Hathaway Energy’s profit surged 27% to $891 million. BNSF, the company’s railroad, posted a 6% increase to $1.56 billion. Berkshire reversed a pattern of selling stocks, becoming a net buyer of equities in the second quarter with nearly $20 billion in net purchases
AlgoTrader 