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12.97 billion dollars in profits for Berkshire Hathaway and Warren Buffett!

Warren Buffett is jubilant. His fund generated a profit of 12.97 billion dollars in 2010, up 61% ...

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The Oracle of Omaha can say thank you to Goldman Sachs and GE. Both groups have paid not less than 10% dividend over 5 and $3 billion, respectively invested in the companies. GE and Goldman have planned to buy back Buffet’s shares in the coming months. Given the share performance since 2009, one can expect substantial capital gains.

Although it has already hired a new chief investment officer, - Todd Combs who will manage a portfolio of 1 to 3 billion dollars - the businessman wrote, in a letter to Berkshire’s shareholders, that he is "healthy" and has no current plans to retire. Better, he urges fellow Americans to be optimistic about the future .

"Our elephant gun has been reloaded, and my trigger finger is itchy" he wrote. The billionaire is ready for more takeovers. Berkshire Hathaway has a war chest of $ 38 billion, enough to have a very wide choice for shopping!

The company Berkshire Hathaway is a holding company with eighty subsidiaries, diversified accross energy, clothing industry, jewelry, business aviation and has stakes in big companies like Coca-Cola.

Next Finance , March 2011

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