Berkshire increases operating profit and buys back shares

Denver Warren Buffett’s portfolio has seen better days. In view of the turbulent markets, the star investor’s investments lost a good ten billion dollars in value in the third quarter. This was announced by Buffett’s Berkshire Hathaway group on Saturday. That also resulted in Berkshire posting a $2.7 billion net loss. A year ago, Berkshire had a net income of over $10 billion.

On an annual basis, the equity holdings, which are worth more than $300 billion, are even down almost $64 billion. The star investor is not worried about that. Such fluctuations are “usually meaningless,” he said when the quarterly figures were published. After all, Buffett is pursuing a long-term strategy and has repeatedly shown a knack for investments over the decades.

>> Read here: Buffett increases stake in Apple and two oil companies