Perhaps a weakness inside the Berkshire series of companies has been exposed. It was considered a well diversified business but, perhaps, too much of it relies on a functioning economy. LOL.
I say that facetiously but what I mean is, he owns railroads but rail freight is way down. He owns candy and food companies (See’s and Dairy Queen) but they are partially closed. He owns insurance companies, they may be losing premium income or facing payouts. He owns tool & die companies but those only work when factories are open to buy tools and dies. He owns netjets, maybe safer than flying commercial but I can’t imagine he’s selling a lot of private flights. He owns Fruit of the Loom, perhaps we can all use some new underwear about now but no place to buy them. I think he has interests in real estate, and frankly that’s going to take a beating at some point as many renters can’t pay their bills (commercial, retail, industrial, residential). Personally I’m thinking of trying to renegotiate my business lease by telling the landlord if he can find another tenant I’ll move to Reno.
He took $50 billion loss/right-down this last quarter. That’s a huge bite. They do have a huge hoard of cash though... like $150 billion in cash. He might make an acquisition at some point. Assuming that cash is not sitting in state and municipal bonds which are surely going to have some pain.
Nice comment.
More weakness today. $8,245 down per share, 3.01% down. Quite a bit more than the market. Wonder what people who trade in share costing $265,720 know that we don't know?