Berkshire swings to big profit; Buffett laments Kraft Heinz

Berkshire swings to big profit; Buffett laments Kraft Heinz:

Berkshire also said it repurchased $1.7 billion of its stock in the quarter, reflecting Buffett’s troubles to find better uses for the Omaha, Nebraska-based conglomerate’s cash hoard, which now totals $114.2 billion. Results were released as Buffett, 88, and Vice Chairman Charlie Munger, 95, prepared to answer more than five hours of questions from shareholders and analysts at Berkshire’s annual meeting in Omaha, Nebraska, which draws tens of thousands of people. Berkshire had $15.1 billion of these gains in the first quarter.

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