Warren Buffett's firm reports $12.8 billion loss as investments fall but its insurers performed well

Warren Buffett's Berkshire Hathaway reported a $12.8 billion loss in the third quarter due to the decrease in the paper value of its investments. However, the company's owned subsidiaries, particularly the insurers, performed well. Despite the investment losses being unrealized, Berkshire's operating profit rose by nearly 41% to $10.8 billion. The insurance unit benefited from low losses related to major catastrophes. Berkshire repurchased $1.1 billion of its own stock in the quarter, but Buffett has not made any major investments or acquisitions this year.