CNBC has reported that Berkshire Hathaway’s quarterly earnings are down from a year ago. The company, owned by Warren Buffet, reported net earnings for the second quarter of this year that are down 7.6%
for the numbers of the second quarter of 2007. Buffet was quoted as saying “As long as you’re a net buyer of stocks, which we are at Berkshire, we want them to be cheaper. I mean, if they reduce the price of hamburgers at McDonald’s today, I feel terrific. Now I don’t go back and think, gee, I paid a little more yesterday. I think I’m going to be buying them cheaper today. Anything you’re going to be buying in the future, you want to have get cheaper.”