WASHINGTON: Billionaire investor Warren Buffet said on Saturday (May 2) he's confident the US economy will bounce back from its pummeling by the ...
WASHINGTON: Billionaire investor Warren Buffet said on Saturday he's confident the US economy will bounce back from its pummeling by the coronavirus pandemic because"American magic has always prevailed".
Berkshire Hathaway had paid US$7 billion to US$8 billion, and"we did not take out anything like that", he said. "But we faced tougher problems, and the American miracles, American magic has always prevailed and it will do so again." Buffett addressed his shareholders in a livestream flanked only by Gregory Abel, who is in charge of Berkshire's non-insurance operations.GROWTH BY ONE MEASURE
The brutal drop in the net - to a loss of US$49.75 billion from a profit last year of US$21.7 billion - resulted primarily from the virus-related decline in value of its broad investment portfolio, which ranges from energy to transport to insurance and technology.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Warren Buffett: The American economic miracle 'has always prevailed and it will do so again'Warren Buffett shared an optimistic message with investors on the trajectory of the US economy. YFBuffett
Read more »
Warren Buffett: Demand for office and retail space may drop 'fairly significantly'Warren Buffett talked about the changing retail and commercial real estate business at Berkshire Hathaway's annual meeting with shareholders.
Read more »
Warren Buffett on not deploying massive cash pile: 'We don’t see anything that attractive to do''This is a very good time to borrow money, which means it may not be such a great time to lend money. But, it's good for the country that it's a good time to borrow money — not good for Berkshire, particularly, although we borrowed some money, so we've put our money where our mouth is
Read more »
Warren Buffett: Berkshire has dumped its airline stocks, says 'world has changed' because of coronavirusBerkshire Hathaway has sold out of its entire interest in the airlines, worth at least US$4 billion. YFBuffett
Read more »
Warren Buffett: I don't know what's next for stocks, and I don't think anyone knowsWarren Buffett doesn’t know what the near future holds for the stock market as COVID-19 ravages the global health and financial landscapes. YFBuffett
Read more »
Warren Buffett still cites See's Candies as an acquisition he loves, 48 years after buying itDuring the Berkshire Hathaway shareholder meeting, CEO Warren Buffett talked about how Berkshire-owned See's candies has been affected by the coronavirus pandemic.
Read more »