Profits rebounded at Warren Buffett’s conglomerate along with the value of its $353 billion stock portfolio in the second quarter to hit $35.9 billion. Many of the assorted businesses Berkshire Hathaway owns also performed well led by strong results in its core insurance businesses particularly Geico. Instead Buffett recommends investors focus on operating earnings. By that measure, Berkshire’s operating earnings grew 6.6% to $10.043 billion. But some of the results at BNSF railroad and Berkshire's housing-related businesses suggest the economy is slowing and rising interest rates are taking a toll.

Source: Wall Street Journal August 10, 2023 17:15 UTC