■ Buffett is buying Treasuries regardless of US downgrade by Fitch
Berkshire Hathaway reported its cash pile reached $147 billion while operating profits jumped 7% year-on-year to $10 billion in the second quarter. More than $120bn of that sum is invested in short-term Treasury bills.
After Fitch cut the US's sovereign rating to AA+ from AAA last week, Buffett told CNBC,“Berkshire bought $10 billion in US Treasuries last Monday. We b...