Berkshire Hathaway Inc. is benefiting after billionaire Chairman Warren Buffett increased investments tied to the U.S. housing market and sidestepped bets on Europe amid the region's debt crisis.

Berkshire's Class A shares rose this week to the highest in 16 months. The Omaha, Nebraska-based company, which is expected to report second-quarter earnings tomorrow, is about 3 percent away from the top closing price since 2008.

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