August 8, 2012
In today's video, industrials editor and analyst Brendan Byrnes discusses Berkshire Hathaway's recent quarter. Though many of the headlines pointed to a decline in earnings, that wasn't the case once investors take a look at operating profit, which rose 37%. GAAP earnings were skewed by a big one-time gain last year, along with paper losses that Berkshire had to take on derivatives. Overall, Berkshire posted a solid quarter, and the stock remains incredibly cheap, trading just above the 1.1 times book "floor" that Warren Buffett has effectively placed on the stock with his promise of buybacks at that level. Check out the video below for more on Berkshire's quarter and how Brendan views it as an investment.
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