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Warren Buffetts Berkshire Hathaway bought back a record $9 billion in stock in the third quarter – 24web.news

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Warren Buffett Gerard Miller

The coronavirus pandemic weighs on its operating revenues and stock cost, Berkshire Hathaway ramped up its stock redeeming program even more in the 3rd quarter, almost doubling the record buyback from the 2nd quarter.Warren Buffetts conglomerate purchased back $9 billion of its own stock, it was exposed Saturday in its third-quarter revenues report. Berkshire repurchased more than $2.5 billion in Class A shares and about $6.7 billion in Class B stock during the quarter. Buffett has actually cautioned investors not to pay attention to those net profits since the investing gains are latent and volatile.Does Buffett believe the stock is cheap?In his yearly letter launched earlier this year, Buffett talked about when he and Berkshire Vice Chairman Charlie Munger would decide to repurchase stock.

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