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Follow on Google News | Warren Buffet Turns Bearish on Europe ($EURUSD)Warren Buffet Hoarding Cash The cash position of Berkshire rose after the announcement of information to regulatory authorities, dated 3 August in the second quarter by 7.5 percent to 40.7 billion dollars
By: Suddeutsche.de New York 's investment company Berkshire Hathaway Inc., billionaire Warren Buffett, the legendary in the second quarter, the highest cash balances disclosed for a year. Buffett also parted with more of consumer stocks. The cash position of Berkshire rose after the announcement of information to regulatory authorities, dated 3 August in the second quarter by 7.5 percent to 40.7 billion dollars, as the holding company based in Omaha, Nebraska now announced. The bottom line came to Berkshire as a seller of shares and split from consumer and retail levels, while was increased in the financial sector as well as "commercial, industrial and other sectors." Certain individual shares of Berkshire but were not explicitly mentioned. "Why should we keep stocks that have served their purpose and are grown?" Said Tom Russo, a partner at Gardner Russo & Gardner. In a telephone interview with Bloomberg News. Some consumer stocks were "struck in different ways," he said. The 81-year-old Buffett had previously spoken of the difficulties with consumption levels in his stock portfolio in the amount of 86.2 billion dollars, in which title of Johnson & Johnson, Procter & Gamble Co. and Kraft Foods Inc. are located. Buys were delivered including shares in U.S. bank Wells Fargo & Co. Buffett wants to use their own data once a year a good idea for acquisitions and had stated in May, a major acquisition in the amount of $ 22 billion had not come to pass. Since the acquisition of the engine manufacturer Lubrizol Corp. additives. for around nine billion dollars in 2011, Berkshire had completed no more major acquisition. End
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