Warren Buffett on Friday highlighted his rebound from last year’s poor performance as strong stock markets and derivatives gains helped Berkshire Hathaway, his investment vehicle, triple profits in the third quarter to $3.24bn.

Berkshire’s earnings were even higher than third-quarter profits at Goldman Sachs, Wall Street’s most profitable bank and one of Mr Buffett’s holdings, and will provide the billionaire investor with more firepower for acquisitions.