US billionaire Warren Buffett's investment vehicle Berkshire Hathaway has reported its first quarter...
US billionaire Warren Buffett's investment vehicle Berkshire Hathaway has reported its first quarterly loss since 2001. Berkshire saw a $1.53bn loss in the first three months of 2009, well down on a $940m profit the previous year. It largely attributes the poor performance to the $1.9bn write down of its stake in oil firm ConocoPhillips and a $986m Q1 loss in the derivatives markets. Berkshire, which has major stakes in Coca-Cola and Wells Fargo, saw first quarter revenues drop 9.5% to $22.8bn.
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
