(Bloomberg) — Warren Buffett’s Berkshire Hathaway Inc., lacking the blockbuster deals that have galvanized the billionaire investor’s renown, embraced a “mildly attractive” way to deploy its vast cash pile last year via a record-breaking level of buybacks — and showed little sign of changing course.
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Berkshire bought back a total of $27.1 billion in 2021, the highest annual level since Buffett began more aggressively repurchasing stock in 2018. The buybacks helped chip away at the near-record $146.7 billion cash pile amassed at the firm Buffett runs with long-time business partner Charlie Munger, a measure that made “good sense’ amid less attractive alternatives, Buffett said in his annual letter Saturday.
“Charlie and I have endured similar cash-heavy positions from time to time in the past. These periods are never pleasant; they are also never…
