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Buffett Builds Berkshire Holdings as Earnings Decline

Devotees of Warren Buffett’s investing strategy may need to look no farther for a bargain than the battered stock of the billionaire’s Berkshire Hathaway Inc.“Regardless of what’s happening to earnings, the cash is still rolling in and asset prices are down,” which will help Berkshire add holdings, said Frank Betz, a partner at Warren, New Jersey-based Carret Zane Capital Management, which oversees $800 million, including Berkshire shares. “It’s Buffett time.”

Berkshire may post a 32 percent decline in second-quarter profit today to $2.13 billion as falling prices crimp insurance earnings and building-related businesses slow with the housing slump, said Charles Hamilton, an analyst at FTN Midwest Securities Corp. The Omaha, Nebraska-based investment and holding company’s stock had its worst first half since 1990 and is down 18 percent this year through yesterday.

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