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Buffett’s Berkshire Snaps Up Record $24.7 Billion of Own Stock

  • Billionaire says repurchases have continued since end of year
  • Cash pile declines 5% from the third quarter to $138.3 billion
Bloomberg business news
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Warren Buffett’s Berkshire Hathaway Inc. bought back a record $24.7 billion of its own stock last year and said there’s more to come, as the conglomerate struggled to find other ways to deploy its enormous pile of cash.

The company’s purchase of $9 billion of shares in the fourth quarter matched a record set in the previous three-month period, Buffett said Saturday in his annual letter to investors.