Woke up to find Buffett's 'aircraft carrier' making a U-turn, dropping $31.5 billion in Q2. 1️⃣ Net profit hit $25.66 billion, more than doubling last year's $12.3 billion, thanks to a $13 billion investment gain holding it up. 2️⃣ Operating profit reached $13 billion, up 16%. Energy, railroads, and manufacturing are all firing on all cylinders, though insurance is lagging a bit. 3️⃣ The real highlight: cash reserves hit a record $397 billion in Q1 but dropped to $365.5 billion in Q2, with $31.5 billion spent in one go. This is the first big move since Abel took over. This signals that Berkshire's 'aircraft carrier' is starting to turn. 4️⃣ The $31.5 billion was split into three parts: 1. $4.5 billion went to buy back Berkshire's own shares—20x more than the $200 million in Q1. 2. $20 billion was spent on Google, adding to their position at a high price. 3. $6.8 billion in an all-cash deal to acquire Taylor Morrison, betting on a U.S. housing recovery. That said, let’s stay clear-headed: Buffett only spent $31.5 billion out of $397 billion in cash—less than 10%. This is just a turn, not a full-scale charge… The big picture is still cautious. He’s waiting… Finally: Industrials + Insurance + Reinsurance + See’s Candies + Furniture Mart + Aviation + Retail + Railroads + Energy + Banks + the strongest cash flow software… and more… Using insurance float as leverage Using infrastructure (railroads/energy) as the foundation Using consumer goods (candies/cola/furniture) for cash flow Using manufacturing (precision castings/chemicals) as the backbone And finally, using tech giants (Apple/Google) as the spearhead of this perpetual motion machine And there’s still $365.5 billion in cash on the books.