Berkshire Hathaway (BRK.A) Stock Hits New 52-Week High on Latest Quarterly Financial Report
Berkshire Hathaway Inc. (NYSE:BRK.A) traces its roots back to 1839 when a textile manufacturing company named Valley Falls Co. was founded by Oliver Chace. In 1929, Valley Falls merged with Berkshire Cotton Manufacturing Co., and the combined entity was renamed Berkshire Fine Spinning Associates. Warren Buffett, who was a lesser-known-investor back then, started buying Berkshire’s stock in the 1960s. Buffett took full control of the company in 1965. Under his leadership, Berkshire became one of the world’s largest holding companies.
Omaha, Nebraska-based Berkshire recently announced its financial results for the fourth quarter and full year. The company reported earnings of $35.835 billion for the quarter, up 23 percent from the same period last year. However, earnings for the full year fell 48 percent to $42.521 billion. Berkshire’s net income mostly depends on gains from big investm
Warren Buffett admits $10 billion mistake in deal for Portland-based Precision Castparts
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Warren Buffett admits $10 billion mistake in deal for Portland-based Precision Castparts
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Updated Feb 28, 2021 | 06:51 IST
Wall Street loves the fees that deal-making generates, and the press loves the stories that colorful promoters provide, billionaire Warren Buffett said in the letter. Warren Buffet writes annual letter to Berkshire Hathaway shareholders; Check full text here
American investor Warren Buffett, Chairman and CEO of Berkshire Hathaway Inc, released the letter to the company s shareholders on February 27. Here is the full text of the letter shared by the billionaire:
Berkshire earned $42.5 billion in 2020 according to generally accepted accounting principles (GAAP). The four components of that figure are $21.9 billion of operating earnings, $4.9 billion of realized capital gains, a $26.7 billion gain from an increase in the amount of net unrealized capital gains that exist in the stocks we hold and, finally, an $11 billion loss from a write-down in the value of a few subsidiary and affiliate businesses that we own. All items