Berkshire Hathaway’s profit soars 33%

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Berkshire’s equity investments swelled 13 percent since March to $73.61 billion, while its fixed-income investments grew more – up 15 percent to $24.92 billion. These were before the recent stock market swoon, where investors have tried to reduce their perceived exposure to market risk.

“People are trying to play guessing games as to what equities he’ll buy, and this is the kind of market Buffett waits for,” Russo said. “But he could just as easily buy mortgage-backed securities – if other investors panic, that’s the time extraordinary returns could be available.”

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