Berkshire Hathaway earns $6.89 billion

Berkshire Hathaway reported second quarter earnings of $6.89 billion on Saturday, up from $4.12 billion a year ago.

Railroads, utilities and energy added $1.89 billion while the insurance business added $943 million.

The bulk of the gain, however, was in the company's stock portfolio, which added $4.5 billion.

Here are Warren Buffett's 5 tips for success