![]() ![]() CNN Sans ™ & © 2016 Cable News Network.Since 2000, Buffett has held an annual fundraiser, auctioning off a charity lunch with him on eBay. Market holidays and trading hours provided by Copp Clark Limited. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC and/or its affiliates. Standard & Poor’s and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. US market indices are shown in real time, except for the S&P 500 which is refreshed every two minutes. ![]() Your CNN account Log in to your CNN account Shares of both classes of Berkshire Hathaway were up slightly in early morning trading Monday.īuffett, who will turn 92 on August 30, has given no indication that he plans to step back from his roles as Berkshire CEO and top portfolio manager just yet.īut the company has already announced that Greg Abel, the 60-year old vice chairman of all of Berkshire’s energy and other non-insurance units, will eventually take over for Buffett. So are the shares of the class B stock, which cost a little less than $300 each and are in the S&P 500.ĬFRA Research analyst Cathy Seifert said in a report after the earnings release that she sees “stable results in most segments” for Berkshire. The super pricy class A shares, which trade for around $445,000 apiece because they don’t split, are down about 2%. The company’s stock has held up better than the rest of the market in 2022. (OXY) and announcing an $11.6 billion deal for insurer Alleghany earlier this year. That’s on top of the more than $40 billion in stocks Berkshire bought during the first quarter.īuffett’s firm also bought back $1 billion of its own shares during the quarter, a move that helps boost earnings per share.īerkshire has been aggressive throughout the market downturn, scooping up a sizable stake in oil giant Occidental Petroleum Berkshire boosts Occidental Petroleum stakeīerkshire reported about $3.8 billion in net stock purchases during the second quarter. Warren Buffett, CEO of Berkshire Hathaway Inc, pauses while playing bridge as part of the company annual meeting weekend in Omaha, Nebraska U.S. “Operating earnings for the second quarter of 2022 are 51% above 2019.”īut many investors pay close attention to Berkshire to see what Buffett, vice chairman Charlie Munger and top Berkshire investing lieutenants Ted Weschler and Todd Combs think about the stock market. “Because the Covid-19 pandemic negatively impacted most businesses, including Berkshire, in early 2020, comparing current results to pre-pandemic 2019 results is helpful” Bill Stone, chief investment officer of the Glenview Trust Company and a Berkshire shareholder, said in a report. There were also jumps in earnings from Berkshire’s railroad, utility and energy businesses.īerkshire owns Geico, Burlington Northern Santa Fe, PacifiCorp and MidAmerican Energy Company as well as big consumer brands such as Fruit of the Loom, Duracell, Dairy Queen and a large stake in Kraft Heinzīig rebound for Berkshire in the past two yearsīerkshire’s many businesses have bounced back sharply from the depths of the Covid-induced slowdown in the economy in 2020. That gain was due in part to higher interest rates boosting portions of its colossal insurance unit. The firm actually reported an operating profit of $9.3 billion in the quarter, up nearly 40% from a year ago. ![]() (CVX) and Coke have both rallied this year but tech stocks and financials have been significant market losers.īut the steep loss in the value of Berkshire’s portfolio is not the whole story. Those five stocks make up nearly 70% of the portfolio. (BRKB) reported Saturday that the massive conglomerate posted a net loss of nearly $44 billion in the second quarter, red ink that was due mostly to a big drop in the value of Berkshire’s significant stock portfolio. Berkshire Hathaway is still buying and many of the the company’s diverse business lines are still thriving, even in these uncertain economic times. But the Oracle of Omaha is undeterred by the wildness on Wall Street. He got crushed by the plunge in the stock market during the first half of the year. ![]() Warren Buffett is just like the rest of us. ![]()
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