Berkshire operating earnings surge 71% in fourth quarter, cash hoard balloons to record $334 billion
1. Berkshire Hathaway’s Q4 operating profit surged 71% to $14.527B. Earnings rose via strong insurance performance. 2. Insurance underwriting jumped 302% to $3.409B; investment income increased nearly 50%. This buoyed overall results. 3. Record cash holdings reached $334.2B while marketable equity holdings declined. Buffett affirmed a long-term equity focus. 4. Wildfires in Southern California are projected to cost $1.3B pre-tax in the insurance segment. This introduces some risk.