Berkshire Hathaway’s Rare Spending Spree Turns Heads on Wall Street

A strong earnings report reveals that new CEO Greg Abel dipped into Warren Buffett’s $380 billion cash reserve to buy back stock, boost Berkshire’s stake in Alphabet, and pursue one of its biggest acquisitions in years. One weak spot: GEICO.

BY KEVIN HAYNES, NEWS WRITER

Berkshire Hathaway reported stronger-than-expected second-quarter results on Saturday, as CEO Greg Abel ramped up share buybacks, invested heavily in other stocks, and began putting a dent in the $380 billion cash hoard built during Warren........

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