Most of those businesses have performed well this year, but Berkshire reported a $44 billion quarterly loss over the weekend on a sharp drop in the paper value of its stock portfolio. As investors in Tokyo digested the news of the 6bn bet, some wonder whether Mr Buffett, whose conglomerate, Berkshire Hathaway, has taken a 5 per cent stake in each of the trading houses, has. In addition to the stakes it holds in companies, Berkshire owns more than 90 companies outright, including BNSF railroad, Geico insurance, several major utilities and an eclectic assortment of manufacturing and retail businesses like See’s Candy, Dairy Queen, Helzberg Diamonds, Fruit of the Loom and Precision Castparts. Berkshire will detail all its second-quarter stock purchases later this month. Berkshire spent more than $51 billion on stocks in the first quarter, but the pace of its investments slowed considerably in the second quarter when it was a net buyer of only $3.8 billion in stocks with much of that going into Occidental. That could provide a roughly $2 billion a year boost to Berkshire’s bottom line.īuffett aggressively invested in stocks this year when the market was weighed down by soaring inflation and rising interest rates. ![]() Because Berkshire now owns 20.2% of Occidental’s stock, it will be allowed to record a proportional share of the oil producer’s earnings on its earnings reports.
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