Warren Buffett’s Berkshire Hathaway reports $1.58 billion loss in 2022

[Kamaji]

Warren Buffett’s Berkshire Hathaway reports $1.58 billion loss in 2022

By Jon Levine
April 30, 2022

Even an Oracle can have an off quarter.

Warren Buffett’s Berkshire Hathaway reported a $1.58 billion loss in the first quarter of 2022, a significant reversal from the nearly $5 billion gain it saw at the same period of 2021.

“We haven’t the faintest idea what the stock market is gonna do when it opens on Monday — we never have,” the legendary 91-year-old “Oracle of Omaha” admitted Saturday to investors who flocked to Nebraska for the company’s annual meeting, the first in-person gathering since the start of the pandemic.

“If I had any sense of timing,” he said, he would have bought stocks when the COVID-19 pandemic went global in March 2020

“I totally missed that opportunity,” he said. “We haven’t ever timed anything. We’ve never figured out insights into the economy.”

Berkshire, a legendary US company that owns a diverse array of brands including insurance provider Geico and See’s Candies, reported $5.4 billion in profits, off 53% of the $12 billion it netted last year.

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Source:  https://nypost.com/2022/04/30/warren-buffetts-berkshire-hathaway-reports-1-58-billion-loss/

[IsailedawayfromFR]

That's nothing for an $800 billion company

[catfish1957]

That's nothing for an $800 billion company

It's not, but it is also interesting that Buffett (BRKa) has underperformed the S&P 500 for a number of years now.  Loss of Magic?, Randomness?, Cognizant loss?  Theories abound.

[IsailedawayfromFR]

It's not, but it is also interesting that Buffett (BRKa) has underperformed the S&P 500 for a number of years now.  Loss of Magic?, Randomness?, Cognizant loss?  Theories abound.

Agreed, the sage may have lost his touch.