Warren Buffett’s magic touch has gone on vacation for a spell. Berkshire Hathaway’s second quarter operating profit fell 18 percent. Much of the loss is attributed to deteriorating underwriting in its insurance operations, including GEICO and reinsurers General Re and National Indemnity. Second-quarter operating profit fell to $245 million, or $161 per share, from $299 million, or $197 per share.
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