Warren Buffett’s Berkshire Hathaway Inc. Reported First Overall Quarterly Loss
Date : 4th November, 2023
Due to declining prices for Apple and other equities it holds, Warren Buffett’s Berkshire Hathaway Inc. reported its first overall quarterly loss in a year on Saturday.
In the third quarter, Berkshire sold $5.3 billion more stocks than it purchased, sending its cash stake to a record $157.2 billion, signalling worry about prices even as its businesses performed better overall.
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$23.5 Billion Investment Losses Due to 12% Drop in Apple's Stock Price
Aside from Buffett’s reputation as an investor, investors keep a careful eye on Berkshire because of its performance, which frequently mirrors larger economic trends.
From $2.8 billion in the third quarter of last year to $12.77 billion, or $8,824 per Class A share, more than four times as much was lost.
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Berkshire Profited From a Quiet Atlantic Hurricane Season
The outcome showed $23.5 billion in investment losses, mostly due to a 12% drop in Apple’s stock price, in which Berkshire had invested $177.6 billion.
In contrast to 2022, when it lost $2.7 billion due to Hurricane Ian, Berkshire profited from a rather quiet Atlantic hurricane season.
The BNSF railway, a number of energy firms, Dairy Queen ice cream, Duracell batteries, Fruit of the Loom pants and See’s sweets are just a few of the numerous enterprises that these conglomerates possess.