Abel Takes Charge at Berkshire Hathaway
Greg Abel just completed his first full quarter as the CEO of Berkshire Hathaway, taking the throne from Warren Buffett. In his first earnings announcement, Abel sent strong signals of a strategic pivot. Most important of these, Berkshire repurchased $4.5 billion of its own stock in the second quarter, its largest quarterly buyback since a similar amount in 2023, and a sharp jump from $200 million in the first quarter. The quarter also saw Berkshire's first net equity purchases in 14 consecutive quarters; $39.4 billion was deployed in the first half alone. In our opinion, the buybacks, not…
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