Greg Abel finally puts Warren Buffett’s $28b cash pile to work

New York | Berkshire Hathaway chief executive Greg Abel ploughed a net $US19.8 billion ($28 billion) into the stock market in the second quarter, ending a more than three-year selling streak by his predecessor Warren Buffett.

The investments, which include a $US10 billion deal to buy Alphabet common stock and $US4.5 billion spent on Berkshire’s own shares in the quarter, signal Abel’s appetite to leave his mark on the Omaha-based insurer by putting some of its mammoth $US365 billion cash pile to work.

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Financial Times