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In a Deal Desert, Warren Buffett’s Berkshire Hathaway Keeps Buying Itself

In a Deal Desert, Warren Buffett’s Berkshire Hathaway Keeps Buying Itself

Warren Buffett’s Berkshire Hathaway Inc. didn’t pull the trigger on any major acquisitions this past quarter—unless you count the company’s own shares.

Berkshire spent $12.6 billion on stock buybacks during the first six months of 2021. And because its shares may still trade below the company’s intrinsic value—as defined by Mr. Buffett—it is a safe bet Berkshire’s repurchases kept that pace in the third quarter, analysts said. In the first few weeks of July, buybacks totaled about $1.75 billion, said James Shanahan, an analyst with Edward Jones.

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