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Here’s the lowdown on Warren Buffett’s big day

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Associated Press

Buffett invests big chunk of Berkshire Hathaway’s cash

Berkshire Hathaway’s first-quarter earnings fell more than 53% on a large swing on the paper value of its investments, but Warren Buffett found ways to put some of the company’s massive cash pile to work, which will give shareholders something to talk about at Saturday’s annual meeting. Berkshire said it earned $5.46 billion, or $3.702 per Class A share, during the quarter. During the first quarter, Buffett agreed to buy the Alleghany insurance conglomerate for $11.6 billion and made multibillion-dollar investments in HP Inc. and Occidental Petroleum.

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