Tag Archive for: Warren Buffett

Berkshire Hathaway Reports $12.8 Billion Loss Amid Falling Investments

Warren Buffett’s Berkshire Hathaway reported a substantial loss of nearly $13 billion in the third quarter of the year.

The company disclosed that it lost $12.8 billion, equivalent to $8,824 per Class A share, for the quarter, according to Associated Press (AP). This loss is significantly larger than the $2.8 billion loss, or $1,907 per Class A share, that Berkshire Hathaway reported for the same period last year.

The majority of these losses are unrealized, as Berkshire Hathaway did not sell most of its stocks, with its largest holding being a significant stake in Apple. Accounting rules mandate that the company include the value of its investments in its earnings. At the end of the quarter, Berkshire Hathaway valued its investments at $341.1 billion, a decrease from the previous quarter when it reported a value of $353 billion, the outlet added.

Buffett has long emphasized that investors should focus on Berkshire Hathaway’s operating earnings, which exclude the varying value of its investments from quarter to quarter. Berkshire reported that its operating profit surged by nearly 41% to $10.8 billion, or $7,437.15 per Class A share, up from $7.65 billion, or $5,215.60 per Class A share, in the same quarter the previous year.

The company’s overall portfolio spans various industries, including insurance, transportation (BNSF railroad), utilities, and manufacturing and retail firms. The company continues to maintain a significant cash position, with $157.2 billion in cash on hand at the end of the third quarter, up from $147.4 billion at the end of the second quarter, AP further reported.

AUTHOR

MARIANE ANGELA

Contributor.

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EDITORS NOTE: This Daily Caller column is republished with permission. ©All rights reserved.

Social Justice Warriors Target “Big Soda”

A recent attack on “Big Soda” – Michael Bloomberg’s other cause célèbre – at last week’s Berkshire Hathaway shareholder meeting revealed the lengths to which Social Justice Warriors will go to impose their will on consumers and lawful businesses.

Berkshire Hathaway, under the direction of famed investor Warren Buffett, is one of the most successful companies in American history.  Among its most profitable investments is a 9% share in Coca-Cola – making it the largest single corporate shareholder in the company.

For the second year in a row, anti-soda activists challenged Warren Buffett over the morality of this investment. In 2015, hedge fund manager Bill Ackman declared that Buffett’s investment in Coca-Cola was “immoral” because soda consumption is linked to obesity and other health problems.

This year, journalist Andrew Ross Sorkin cited a Tufts University study that stated sugary drinks – like Coca-Cola – caused 180,000 deaths a year from diabetes, heart disease, and cancer.  “Please explain directly why we Berkshire Hathaway shareholders should be proud to own Coke,” Sorkin demanded.

Fortunately, Warren Buffett – who drinks an average of five cans of Cherry Coke a day – brought the room back to reality by reminding the audience that people have the liberty to make their own decisions.  “You have a choice,” he said. “I make a choice to get 700 calories from Coke, I like fudge a lot, too, and peanut brittle and I am a very happy guy.”  He went on, “I’ve not seen evidence that convinces me I’ll be more likely to make it to 100 if I suddenly switched to water and broccoli.”

This divestment campaign follows the same game plan that New York Mayor Bill de Blasio,  Chicago Mayor Rahm Emmanuel and Bloomberg-supported States United to Prevent Gun Violence have used to strong-arm pension plans into dumping shares in firearm companies.

These are the lengths to which authoritarian-minded activists will go control your lives and scapegoat legal businesses.  They will never stop trying to dictate whatever they believe is good for you, and they are so convinced of their self-righteousness that they will never question the validity of their beliefs.  Indeed, it is exactly these sorts of crusading zealots that prompted the writer C.S. Lewis’ to caution that “a tyranny sincerely exercised for the good of its victims may be the most oppressive,” because “those who torment us for our own good will torment us without end.”

Al-Qaeda hit list: Gates, Bloomberg, Buffett, Adelson, Koch brothers

Bill Gates, Michael Bloomberg, Warren Buffett, the Koch brothers, Larry Ellison, Sheldon Adelson: none of them have done a thing to “provoke” this. They are not part of the U.S. government or military. They did not draw cartoons of Muhammad. Yet all too many people in the U.S. still believe that if they just do nothing to offend the Muslims, they will be spared. In reality, the jihadis are targeting everyone, without exception, and it is never justified to live on one’s knees.

assassination-jihad-al-qaeda

“Al Qaeda Mag Urges Attack on Koch Brothers, Buffett, Bloomberg,” by Robert Windrem and Tracy Connor, NBC News, September 9, 2015:

A notorious al Qaeda magazine is encouraging lone-wolf terrorist attacks on U.S. economic leaders, including Bill Gates, Michael Bloomberg and Warren Buffett.

The list in Inspire magazine also included industrialist brothers Charles and David Koch, internet entrepreneur Larry Ellison, and casino magnate Sheldon Adelson. A prominent economist was also on the list but asked that his name be withheld. Federal Reserve chairman Ben Bernanke was named, though not Janet Yellen, who succeeded him.

Also pictured was Jim Walton, one of the heirs to the Wal-Mart fortune, although he was misidentified in the caption as his late father, Sam Walton. Several other names on the list were misspelled.

The slickly produced magazine article begins with a photo illustration showing blood-spattered pictures of several of the leaders next to a dripping gun. Its stated goal is to derail the “revival of the America Economy.”

The article says the “economic personalities” and “wealthy entrepreneurs” can get off the list by withdrawing their money from U.S. banks, investing their wealth outside American soil, and denouncing support for Israel….

Inspire magazine is published online by al Qaeda in the Arabian Peninsula and was once edited by American-raised jihadi Samir Khan, who was killed in 2011 drone attack along with cleric Anwar al-Awlaki.

It’s best known for an article titled, “How To Make A Bomb in the Kitchen of Your Mom,” which provided a recipe for explosives….

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