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Legendary investor Warren Buffett's company posts $44bn loss

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Sharp dip in headline loss, but 39% rise in operating profit 😲⬇️

Warren Buffett, who is chairman and chief executive of Berkshire Hathaway - Andrew Harrer/Bloomberg

Its stock portfolio fell in value to $328bn, down from $391bn at the end of March. Three of its major holdings – Apple, Bank of America and American Express – each fell more than 21pc. The business also slowed its investments in new stocks to $6.2bn in the quarter, down from $51.1bn between January and March, when it ploughed money into oil companies. Berkshire Hathaway bought back $1bn worth of its own shares in June.

The performance of his company is closely watched because of Mr Buffett’s reputation for investing long term and calling the market correctly.owns dozens of businesses, including its eponymous energy operations and manufacturing companies, and consumer companies such as Duracell batteries, Fruit of the Loom underwear and See's Candies. Because of its breadth it is also regarded by many investors as a bellwether, mirroring broader economic trends.

 

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