Wow! Berkshire Profit Climbs 72%!!

Leave it to Warren. Berkshire Hathaway Inc. (BRK/A) said profit climbed 72 percent in the third quarter as a stock-market rally helped improve results in the derivatives book and earnings at the railroad climbed. Net income rose to $3.9 billion, or $2,373 a share, from $2.28 billion, or $1,380, a year earlier, the Omaha, Nebraska- based company said today in a statement. Operating earnings, which exclude some investment results, were $2,057 a share, missing the $2,063 average estimate of three analysts surveyed by Bloomberg..... Buffett, 82, made the equity-derivatives bets in the last decade to wager on long-term gains in stock-market indexes in the U.S., Europe and Japan. When the benchmarks fall, as they did in last year’s third quarter, Berkshire’s liabilities on the contracts can climb, pressuring earnings…..................................................................................................................... Read all about it at http://www.bloomberg.com/news/2012-11-02/berkshire-profit-climbs-72-on-derivatives-railroad.html