Buffett’s ‘Elephant Gun’ Loaded for Buyouts as Profit Gains
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-- Warren Buffett said he’s looking for “more major acquisitions” after the economic recovery and the purchase of the Burlington Northern Santa Fe railroad helped increase fourth-quarter profit at his Berkshire Hathaway Inc.
“Our elephant gun has been reloaded, and my trigger finger is itchy,” Buffett said of the outlook for deals in his annual letter to shareholders on Feb. 26. Omaha, Nebraska-based Berkshire reported a 43 percent gain in profit in the three months ended Dec. 31. The company’s cash holdings rose to $38.2 billion at year-end, the highest in three years, compared with $34.5 billion as of Sept. 30.