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Berkshire Hathaway Had a Strong 2022. What to Watch in 2023.
The outlook for 2023 looks good as well, with Berkshire (ticker: BRK.A, BRK.B) standing to benefit from an upturn in insurance profits, its acquisition of insurer Alleghany in the fourth quarter of 2022, higher yields on the company’s big cash position, and income from all the 2022 equity investments, led by Chevron (CVX) and Occidental Petroleum (OXY), that were spearheaded by Warren Buffett, its 92-year-old CEO. One wild card is stock buybacks. Berkshire cut its share repurchases in 2022, which totaled $5 billion through the third quarter, against $27 billion in 2021 and $25 billion in 2020.
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