Warren Buffett’s Berkshire Hathaway Inc on Saturday said stock market gains fueled a record quarterly profit, while the billionaire signaled investors are undervaluing his company by repurchasing another $9 billion of its stock.
Berkshire’s fourth-quarter buybacks boosted the company’s overall stock repurchases to $24.7 billion in 2020, five times the record from a year earlier, and Berkshire appears to have repurchased another $4 billion or more in 2021.
