On Saturday, Berkshire said fiscal third-quarter operating earnings rose to $10.8 billion, up from $7.7 billion for the year-ago quarter, according to the Wall Street Journal. The Omaha, Neb.-based conglomerate finished the period with a record $157.2 billion in cash and equivalents, up from $147.4 billion a year earlier. Berkshire shares gained 0.5% in premarket trade.
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I had to laugh when I read this. Maybe you youngsters don't know the history but that's the idea that started this mess. At the time , and still today, the owner of the Lumen- Qwest RR ROWs is Phillip Anschutz
he only buys good businesses that are growing their earnings, this car wreck of a business is doing the opposite.
he doesn't want to get sh-t on his
fancy loafers.
I was thinking about this too when I read how well they did in cash despite losses.
Them, Bezos, Google, etc. any one could automate their network at a level they don't need to pay expensive sales people to deal with the legacy complexities.
Then I thought... If I was either of them, I'd just wait for a cheaper price when the assets go into clearance.
Why do you think Mr. buffet has all that money, he knows not to buy a "pig in a poke" AKA Lumen.