Warren Buffett's successor starts spending Berkshire's cash mountain

Greg Abel boosted spending on stocks and buybacks in the second quarter. AP Photo/Rebecca S. Gratz Greg Abel made a dent in Berkshire Hathaway's cash pile last quarter. Berkshire's heaviest spending on stocks and buybacks in years shrank its cash pile to $365 billion. Warren Buffett grew Berkshire's cash to record hig

Strength across its energy, railroad and manufacturing businesses more than offset weaker insurance results.