Berkshire Hathaway Boosts Buybacks as Operating Earnings Slide

Berkshire Hathaway spent about $9.6 billion on share buybacks in the third quarter, signaling executives saw the stock as undervalued. However, declining insurance underwriting weighed on operating earnings, resulting in a mixed quarter for the company. The buyback pace suggests continued confidence in the conglomerate's long-term value despite near-term profit pressures.