Warren Buffett has reported a little more than a third of the profit last year on Saturday morning, just like thousands of Berkshire Hathaway The shareholders broadcast a yard to listen to the answer questions to the esteemed investor.
The profit numbers were weighed due to a significant decrease in the value of their investments and $ 860 million in insurance losses related to GEICO and other insurance companies before the destroyed southern California fires.
Berkshire said she had received $ 4.6 billion, or $ 3,200 per share of the first degree, in the first quarter. This decreased from $ 12.7 billion, or 8,825 dollars per category A, last year.
But Buffett has long recommended that investors take more attention to Berkshire’s operating profits because those who exclude the value of their investments, which can vary greatly from a quarter to a quarter. Berkshire should include the value of its investments in its final numbers, although it has not sold most of them.
From this procedure, Berkshire’s profits still decreased by 14 % at 9.6 billion dollars, or 6,703.41 dollars per share. Last year, the group expressed the operating profits of $ 11.2 billion, or $ 796.47 per share of first -class.
Analysts included in the poll by FactSet Research that Berkchire will reach the $ 7,076.90 operating profits per share of first class.
But Puffett’s comments will be the main gravity on Saturday. Investors will search for him to explain the reason for Berkshire now on 347.7 billion dollars from the end of the first quarter, up from $ 334.2 billion at the end of the year. The growing cash stack is a reminder that Puffett did not find any investments at attractive prices recently, but the report does not clarify whether he bought anything in April when the market decreased after President Donald Trump declared.
Haibo Liu even overnight overnight outside the square over the night to be the first on Saturday morning. Liu said he was concerned that this year may be the last meeting of Bavate since he was 94 years old, so he made the priority of his second meeting.
“He helped me a lot,” Liu, who traveled from China, told the audience. “I really want to express his thanks to him,” Liu said.
Berkshire Hathaway has dozens of companies, including GEICO and BNSF RAILROAD, a set of huge facilities and a variety of retail and manufacturing business including known brands like Candy’s Candy. It also holds a huge shares portfolio.
This story was originally shown on Fortune.com
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