Buffett's investment moves are still watched closely by Wall Street.
There aren’t many people who turn 93 and have people wondering what’s next for them. But Warren Buffett, whose birthday is today, isn’t normal people.
Shares of Berkshire Hathaway climbed to a record high earlier this month after reporting that operating earnings rose more than 6% to $10 billion in the second quarter—marking a new record. Meanwhile, Berkshire’s cash pile swelled to nearly $150 billion, up from $130.6 billion in the prior quarter as the firm pared back stock positions.
But now cash is looking smart: Buffett revealed to CNBC earlier this month that he has been a consistent buyer of three- and six-month U.S. Treasury bills, which yield more than 5.5%. So great is the trust in Buffett that investors don’t seem to mind that Berkshire eased up on buybacks during the second quarter, repurchasing $1.4 billion worth of shares compared with $4.4 billion in the prior quarter, as the company’s stock climbed.
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