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In a year of outsized gains, Berkshire Hathaway's profits peaked at $13.21 billion in 2007, driven by the insurance sector.
However, predicting a fall of insurance-industry profit margins in 2008, Warren Buffett is shifting focus to his non-insurance investments, eyeing some high-ticket acquisitions in manufacturing and services. The company bought a 60% majority stake in Marmon Holdings, an industrial group owned by one of America's richest families, for $4.5 billion.