Berkshire Hathaway, the conglomerate run by billionaire Warren Buffett, has reported a quarterly operating profit rise of 67%, as insurance underwriting rebounded and several business units benefited from a growing economy.

Billionaire Warren Buffett said on Saturday that Berkshire Hathaway is poised to do well no matter who wins the White House in November, and the billionaire investor defended the performance and tactics of the conglomerate’s several large investments.