Buffett reveals his traditional insurance premiums funds source is diminishing

Former hedge fund manager, Warren Buffett, who is known for turning Berkshire Hathaway Inc. into a company worth $195 billion through the leveraging of insurance premiums, has announced that his staple new revenue source is rapidly shrinking. The insurance units for Berkshire, which are in sectors covering everything from healthcare for asbestos exposure to auto plans, has dried up to the degree that it is no longer providing adequate investment funds as either float or accumulated premiums. According to a letter released by Buffet, as of December 31, 2011, the…

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