Berkshire Hathaway reports nearly $50B loss as investments drop

Berkshire Hathaway reports nearly $50B loss as investments drop

Warren Buffett’s Berkshire Hathaway Saturday posted a record net loss of nearly $50 billion because of a huge drop in the paper value of its investments, but operating profit rose even as COVID-19 hurt its businesses. The loss — compared with a $21.7 billion profit during the same quarter a year ago — was driven by the pandemic’s hits to its vast array of investments and operating businesses.

TheWeakMinded 4 weeks

Waiting for all the 'have, we dont care a rich man lost money's comments from people who fail to realize how retirement accounts get money

Rocky 4 weeks

He didn't lose a dollar as Buffett would tell you himself. Until you sell at a lower price than what you bought it at you have lost nothing. Just like the last recession where he didn't lose a single dollar because he held his stocks through the crisis and ended up still turning a profit on his portfolio. There is a reason the stupid rich clamor to bid exorbitant amounts of money for a single sit down meeting with Mr. Buffett.

Alex Stovall
Alex Stovall 4 weeks

Lol F for everyone retiring this year. Might have to wait another year for it to bounce back

Hannibal 4 weeks

For all the talk of how brilliant he supposedly is a vast portion of his fortune is derived from effective lobbying. Everybody remember the protests of the Keystone pipeline? Buffett was sponsoring the protests and donating to environmentalist politicians. Why? Because he stood to lose billions on his railway investments on oil shipments that would cease the day the pipeline is finished. Hes one of the most politically connected men in America.

M. Schlegel
M. Schlegel 4 weeks

He will still be one of the richest if not the richest man in the world, both Buffet himself and all the important figures working for him are quite intelligent people who understand the economics of a crisis better than mos of us, me included. They will find way to get through the crisis without a major loss. Loss in paper value means nothing btw.

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