The post Buffett’s Berkshire moves back in line with the S&P 500 appeared com. Berkshire Hathaway just erased nearly two-thirds of its lag behind the S&P 500 last week, climbing 4. 5% as investors dumped AI names and circled back to companies that actually make money. The rally came after a strong third-quarter earnings report dropped over the weekend, while the Nasdaq cratered 3%, its largest weekly fall since April. The renewed interest in Warren Buffett’s company came at a time when markets started worrying that AI plays are too expensive and the U. S. economy might be weakening. According to Barron’s, the rally in Berkshire’s stocks cut its underperformance versus the S&P 500 to 4. 3 percentage points from 12. 2 points as of October 29. Berkshire’s operating income surged by 34% to nearly $13. 5 billion in Q3, driven mainly by a 200% increase in profit from insurance underwriting. Buffett holds the buyback, piles up record cash Despite the strong quarter, Warren didn’t greenlight any stock buybacks, meaning he still doesn’t see Berkshire Hathaway shares as cheap, even after months of trading well below their May highs. With no cash spent on repurchasing its own shares, and with the company selling off more stocks than it bought, Berkshire’s total cash balance reached $381. 7 billion at the end of September. That’s a 10. 9% increase from June, and when you subtract BNSF Railway’s cash and adjust for the timing of some Treasury bill purchases, the pile still sits at $354. 3 billion, up 4. 3% over the same stretch. Warren might also be preparing to step away. On Monday, November 10, the company is scheduled to release a press statement that will include a message from him about philanthropy, Berkshire, and “other matters that shareholders may find to be of interest.” That’s what the company told The Wall Street Journal and confirmed in a news release last week. No one’s calling it a.