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November 18, 2019

As Buffett seeks big acquisition, Berkshire trails S&P

  • Berkshire Hathaway's performance has tested the patience of some longtime Buffett backers.
    AP Business Writer

    OMAHA, Neb. — Three-quarters of the way through 2019, Warren Buffett's conglomerate Berkshire Hathaway is trailing the renowned investor's favorite benchmark, the S&P 500 — as it's done over the past decade.

    Besides having a large stock portfolio, Berkshire owns an odd mix of companies, some well-known such as the Geico insurance company and the Dairy Queen restaurants, and other far less familiar names such as MidAmerican Energy and Iscar Metalworking. The assortment produces steady profits but not significant growth, and occasionally needs some new blood in order to outperform the market.

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