Berkshire Hathaway’s operating earnings climbed 16% in the second quarter as strength across its energy, railroad and manufacturing businesses more than offset weaker insurance results. But the bigger takeaway from the results is that CEO Greg Abel, 64, is starting to put the record cash hoard amassed by Warren Buffett to work on buybacks and stock purchases. Berkshire’s cash pile declined to $365.5 billion at the end of June from a record $397.4 billion three months earlier, as the conglomerate
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