Berkshire Spends $7.8 Billion Buying Its Own Shares

Berkshire Hathaway spent $7.8 billion repurchasing its own stock last quarter, according to its August 8 regulatory filing. Think of it as a company investing in itself. Cash on hand fell to $364.7 billion. Operating profit climbed 16% from a year earlier to $12.98 billion — the biggest spending quarter since Greg Abel took over from Warren Buffett.