Berkshire Hathaway’s Sept. 25 Earnings — What Buffett’s Q3 moves mean for investors
With stocks near record highs, the Treasury curve steepening, and the Federal Reserve pivoting toward rate cuts, Berkshire Hathaway’s late‑September earnings update arrives at a pivotal moment for capital allocators. The read‑through from Warren Buffett’s Q3 moves will extend far beyond Omaha: buyback cadence, insurance underwriting discipline, and portfolio reshaping will all signal how one of the market’s most seasoned investors is navigating a richly valued regime. Three forces frame the quarter. First, equity prices have climbed as markets priced in monetary easing; even the Fed chair has described equity valuations as fairly highly valued. Second, yields have stepped down across the curve, improving fixed‑income marks and compressing cash yields. Third, energy strategy is in flux, with Occidental Petroleum evaluating a major portfolio decision that could reshape Berkshire’s exposure to a key cyclical sector. This article outlines what to watch in Berkshire’s Q3 print, why the Occidental pivot matters, how to interpret moves through the Buffett’s Alpha framework, and practical ways investors can adjust their playbooks around the print.