Buffett firm sees profits triple

Buffett firm sees profits triple

Warren Buffett is considered one of the world's greatest investors

Billionaire Warren Buffett's investment firm has reported that profits almost tripled in the third quarter.

Berkshire Hathaway said its net profit was $3.2bn (£1.9bn) in the three months to September, compared to $1.1bn in the same period last year.

But most of that was due to an unrealised $1.1bn gain on some derivatives its insurance unit holds.

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