Buffett: No bargain companies to acquire

Warren Buffett–led Berkshire Hathaway this week disclosed a sizable $928 million buyback of its own stock, said Nicole Friedman in The Wall Street Journal. Spending money on a stock buyback instead of acquisitions shows that the legendary CEO sees “a dearth of appealing investment options.” Buffett, a “value investor best known for striking deals when prices are low,” last made a big purchase in 2016, when his company bought Precision Castparts Corp. for about $32 billion. He’s not alone. U.S. companies have repurchased a record amount of their own stocks this year—after the tax-law overhaul.