Warren Buffett sought to reassure investors that his Berkshire Hathaway Inc. remains in strong shape as Berkshire’s cash pile remained near record highs due to a dearth of large deals.

Berkshire’s earnings surged last year due to unrealized investment gains, but the conglomerate’s cash pile totaled $128 billion as of Dec. 31, the company said Saturday, slightly down from $128.2 billion at the end of the third quarter.

Mr….

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