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Buffett Takes ‘Mildly’ Attractive Path With Record Buybacks

  • Berkshire’s billionaire CEO released annual letter Saturday
  • Repurchases “make good sense” amid scarce deals, Buffett says
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Warren Buffett’s Berkshire Hathaway Inc., lacking the blockbuster deals that have galvanized the billionaire investor’s renown, embraced a “mildly attractive” way to deploy its vast cash pile last year via a record-breaking level of buybacks -- and showed little sign of changing course.

Berkshire bought back a total of $27.1 billion in 2021, the highest annual level since Buffett began more aggressively repurchasing stock in 2018. The buybacks helped chip away at the near-record $146.7 billion cash pile amassed at the firm Buffett runs with long-time business partner Charlie Munger, a measure that made “good sense’ amid less attractive alternatives, Buffett said in his annual letter Saturday.