Warren Buffett's Berkshire Hathaway Inc dove into equity markets in the first quarter, spending more than $51 billion on stocks including a much larger stake in Chevron Corp .
Berkshire ended March with $391 billion of stocks, more than half of the company's $712 billion overall market value.
Berkshire's net income fell 53% to $5.46 billion, or $3,702 per Class A share, to $11.71 billion, or $7,638 per Class A share, a year earlier., as well as Chevron. In its quarterly report, Berkshire alluded to the Ukraine invasion, without mentioning it specifically, and the spread of Omicron variants of COVID-19 in discussing the supply chain issues that many businesses now face.
Chip shortages were also a problem, dampening consumer shipping volume at BNSF and reducing sales volume at Berkshire Hathaway Automotive car dealerships.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Why Apple's supply crunch might not be that badApple expects to face billions of dollars in supply-chain impacts during the current quarter, but analysts aren’t worried. Analysts say Apple’s crunch is only temporary, happening at a slow time of the year, and shows the resilience of demand.
Read more »
Warren Buffett and Berkshire Hathaway are once again outperforming the stock market. Apple is one big reason but these other 10 stocks also helpedBerkshire has had an excellent 2022, while the broader market has floundered.
Read more »
Berkshire Hathaway’s annual meeting is here: What to expect from Warren Buffett and Charlie MungerInvestors around the globe are waiting to hear from Warren Buffett, along with his right-hand man Charlie Munger, following a flurry of investment activities.
Read more »
Warren Buffett's Berkshire all-day meeting to kick off in OmahaWarren Buffett's Berkshire Hathaway Inc holds its hotly-anticipated annual shareholder meeting in person on Saturday for the first time since before the pandemic, where shareholders will have the chance to quiz the so-called 'Oracle of Omaha' on everything from corporate governance, potential new investments and Buffett's views on the economy.
Read more »
Buffett invests big chunk of Berkshire Hathaway's cashBerkshire Hathaway’s first-quarter earnings fell more than 53% on a large swing on the paper value of its investments, but Warren Buffett found some ways to put the company’s massive cash pile to work
Read more »
Pro-life activists protest Warren Buffett ahead of shareholder meetingPro-life activists called on Berkshire Hathaway shareholders to renounce CEO Warren Buffett’s funding of abortion rights in a protest outside the site of the firm’s shareholder meeting on Friday.
Read more »