'The outlook for 2023 is good. CEO Buffett roused himself from postpandemic lethargy and was an aggressive buyer of stocks this year, including $10 billion of Occidental Petroleum OXY +1.14% (OXY) and about $20 billion of Chevron (CVX). He also reached a deal to buy property and casualty insurer Alleghany for $12 billion on attractive terms.

Those investments will lift earnings, as will the income from Berkshire's $100 billion of cash now that short rates are up to 4%. Berkshire's earnings power is running at more than $30 billion annually, thanks to its wide range of businesses, including railroads, insurers, and energy. The stock looks reasonably priced, trading for about 1.4 times estimated year-end 2022 book value, in line with its five-year average.'

the Author constantly calls for a dividend. I don't want a dividend.

barrons.com - Buy berkshire hathaway stock warren buffett

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