Buffett’s Berkshire Posts Record Cash Pile as Operating Earnings Rise

Warren Buffett’s Berkshire Hathaway Inc. said its cash pile scaled a new record as the billionaire investor decried a lack of meaningful deals that would give the firm a shot at “eye-popping performance.”

Berkshire’s cash hoard jumped to a record at $167.6 billion in the fourth quarter as the conglomerate struggled to find deals at attractive valuations. The company also reported fourth-quarter operating earnings of $8.48 billion, versus $6.63 billion for the same period a year earlier, helped by an increase in insurance underwriting earnings and investment income amid higher interest rates and milder weather.