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Buffett’s Berkshire Pounces on Market Slump to Buy Equities

  • Conglomerate snapped up net $3.8 billion in the second quarter
  • Geico insurance unit reports underwriting loss of $487 million
Bloomberg business news
Berkshire Pounces on Market Slump
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Warren Buffett’s Berkshire Hathaway Inc. is following an age-old adage: Buy the dip.

The conglomerate was a net buyer of equities in the quarter, reporting $3.8 billion in purchases, according to results released Saturday. It was a net seller in the second quarter of last year.