By Pritam Biswas (Reuters) -Class A shares of Warren Buffett's Berkshire Hathaway fell more than 3% in afternoon trading on Monday, as investors fretted over a $3.8 billion write-down and a dip in quarterly operating profit that the firm disclosed on Saturday.

Berkshire has not repurchased shares since May and has now forgone buybacks for four straight quarters, even as the stock dropped over 12 percent between Buffett’s retirement announcement and last Friday’s close, as reported by Bloomberg.

Buffett, who oversees the company’s share repurchase programme, stopped buying back Berkshire shares in May 2024. He repurchases stock when he “believes that the repurchase price is below Berkshire’s intrinsic value”, according to company filings.