What Berkshire Is Doing in the First Quarter

Berkshire bought 1.7 billion of stock at the start of the year, or something close to that. And our purchases were a couple of billion more than our sales of equities. But as you saw in the previous slide, we had operating earnings of almost 6 billion. We don't need it all. But we do never want to be dependent on not only the kind of strangers, but the kind of the friends.