What's going on?

SoftBank � the Japanese conglomerate with large stakes in Uber and WeWork, among others � reported results on Monday that blew past expectations.

What does this mean?

The company�s profit last quarter was nearly double forecasts at over $6 billion, helped by ever-more-valuable investments in fast-growing tech companies. Despite its big-ticket backing of telecoms companies like Sprint, it�s SoftBank�s $100 billion Vision Fund that�s made it a household name as one of the world�s biggest tech investors. That fund contributed around $3.5 billion of the company�s quarterly profit � more than all of Softbank�s other businesses combined (tweet this).

Why should I care?

For markets: Buybacks are back for investment companies.

Warren Buffett�s investment company, Berkshire Hathaway, told the market on Saturday that it repurchased over $900 million of its own stock last quarter. With valuations of potential investee companies sky high, Buffett put Berkshire�s cash to work propping up its own share price instead. Historically, Berkshire had promised to only buy back its shares when they dropped below a set level relative to what the company was worth on paper, but it�s now taking a more flexible approach � buying when management feel the stock price is below what it thinks Berkshire is intrinsically worth.

The bigger picture: Sticking to the Vision.

SoftBank�s Vision Fund has come under scrutiny in the last few months: its biggest investor, contributing almost half its war chest, is Saudi Arabia. After a journalist was killed at a Saudi embassy last month, there�s been growing pressure on companies to reject Saudi cash. SoftBank�s CEO, along with a handful of other high-profile business leaders, pulled out of an investment conference in the Kingdom last month, and Tesla�s Elon Musk said he probably wouldn�t take money from Saudi Arabia. But SoftBank said on Monday that it has a duty to Saudi citizens to invest on their behalf, potentially encouraging other companies not to sever ties just yet.