NEW YORK (REUTERS) - Warren Buffett's Berkshire Hathaway is being hit hard by the coronavirus pandemic, posting a record quarterly net loss of nearly US$50 billion (S$70 billion) on Saturday (May 2) and saying performance is suffering in several major operating businesses.. Read more at straitstimes.com.
NEW YORK - Warren Buffett's Berkshire Hathaway is being hit hard by the coronavirus pandemic, posting a record quarterly net loss of nearly US$50 billion on Saturday and saying performance is suffering in several major operating businesses.
Buffett also allowed Berkshire's cash stake to rise to a record US$137.3 billion from US$128 billion at the end of 2019. Still, Shanahan said Berkshire is"as well positioned as it can be," reflecting its diverse businesses and substantial liquidity and access to capital. He rates Berkshire"buy." An accounting rule requires Berkshire to report unrealised stock losses and gains with net results, causing huge swings that Buffett considers meaningless.
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