Buffett's Berkshire Hathaway profits increase 45% despite near-record cash pile

Lack of 'exciting' investment opportunities

‘Sage of Omaha’ Warren Buffett’s $173bn Berkshire Hathaway saw operating profits of $7.3bn during the final three months of 2021, despite sitting on an historically high cash pile of $146.7bn.

The results, which were driven by strong returns from Buffett's utility holdings and BNSF Railway, mark a 45% uptick compared to the same time period during the previous year, although Buffett by his own admission has found "little that excites us" in terms of where to allocate the rest of his capital. In a letter to shareholders published on Saturday (26 February), Buffett said: "Alas, there was little action… in 2021. We did, though, make reasonable progress in increasing the intrinsic value of your shares. That task has been my primary duty for 57 years. And it will continue to be." ...