Berkshire’s Buybacks Cheer Investors. But Warren Buffett Is Not Buying Stocks.

Berkshire Hathaway‘s third-quarter earnings highlighted its financial strength and diversified earnings power, but also showed weakness in its insurance operations and minimal investment activity.

 Investors were cheered by the company boosting its stock buyback activity as Berkshire repurchased $7.6 billion of stock in the period, above the $6 billion in the second quarter and $6.6 billion in the first three months of this year. The results were released Saturday morning.

The…