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The second quarter's deficit for Berkshire Hathaway Inc.....

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the conglomerate led by billionaire Warren Buffett was hurt by.....

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the decline in US stock prices, which resulted in a $43.8 billion loss.....

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Despite these losses, Berkshire still managed to generate operating profits....

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of close to $9.3 billion thanks to gains from reinsurance and the railroad operator BNSF...

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which more than offset new losses at the Geico car insurer....

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The company's insurance divisions were able to increase their investment income thanks to rising interest rates.....

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and dividend payments and the appreciating US currency also improved.....

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profits from holdings of European and Japanese debt.