There is an incredible amount of confusing data about BH coming out. The report below shows a massive increase in profit for BH. Of course this is Market Watch which was owned by CBS and still has a ton of liberal maggots getting a paycheck.
Also of interest is BH owns 18% of the Washington Post. I wonder how many other left wing fishwraps BH owns. The left wing newspaper where Toles works is one.
http://www.marketwatch.com/News/Story/Story.aspx?guid=%7B37649E6A%2D989C%2D4756%2D84B5%2D137102D0436F%7D&siteid=yhoo
Berkshire earnings zoom 54% in quarter
By Mark Cotton, MarketWatch
Last Update: 10:48 AM ET Mar 4, 2006
NEW YORK (MarketWatch) -- Berkshire Hathaway Inc. said Saturday its fourth-quarter profit surged 54% despite heavy payouts to hurricane-related claims.
"We estimate our loss from Katrina at $2.5 billion - and her ugly sisters, Rita and Wilma, cost us an additional $.9 billion," said Berkshire Hathaway's Chief Executive
Officer Warren Buffett in his annual letter to shareholders. Read Buffett's letter to shareholders
The Omaha, Neb.-based holding company reported net income for the fourth quarter of $5.1 billion, or $3,330 a share. Revenue shot up 27% to $25.37 billion.
For 2005, Berkshire Hathaway posted a 16.6% rise in net profit of $8.5 billion, or $5,538, a share, up from $7.31 billion, or $4,753 a share, last year. Revenue rose 9.6% to $81.6 billion from $74.75 billion in 2004.
Insurance
In Berkshire's (BRKA : berkshire hathaway inc del cl a
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Last: 87,490.00+490.00+0.56%
3:51pm 03/03/2006
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BRKA87,490.00, +490.00, +0.6%) (BRKB : berkshire hathaway inc del cl b
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Last: 2,911.40+18.40+0.64%
4:00pm 03/03/2006
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BRKB2,911.40, +18.40, +0.6%) insurance group, the company booked an underwriting profit of $53 million in 2005, down from $1.6 billion a year ago.
The sharp decline in profit is due to a $334 million underwriting loss at its General Re unit and a $1.07 billion loss at B-H Reinsurance as a result of the payouts linked to damage caused by the hurricanes that battered the Gulf Coast and Florida in 2005.
These losses were partially offset by a rise in underwriting profits at its GEICO car insurance unit. In 2005, profit rose to $1.22 billion from 970 million a year ago.
Auto policies in force grew by 12.1% at GEICO, a gain increasing its market share of U.S. private passenger auto business from about 5.6% to about 6.1%.
"When Berkshire acquired control of GEICO in 1996, its annual advertising expenditures were $31 million. Last year we were up to $502 million. And I can't wait to spend more," said Buffett.
Acquisitions
Berkshire said it now holds a 12.2% stake (WFC : Wells Fargo & Company
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Last: 63.82-0.02-0.03%
4:01pm 03/03/2006
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WFC63.82, -0.02, 0.0%) in American Express Co. and (AXP : American Express Company
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Last: 53.75-0.03-0.06%
4:01pm 03/03/2006
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AXP53.75, -0.03, -0.1%) , an 8.4% stake in Coca-Cola Co. (KO : The Coca-Cola Company
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Last: 41.80-0.11-0.26%
4:02pm 03/03/2006
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KO41.80, -0.11, -0.3%) .
Among its other significant shareholdings, Berkshire Hathaway holds an 18% stake in The Washington Post, a 16.2% stake in Moody's Corporation and a 16% stake in White Mountains Insurance.
Buffett said his company has also substantially increased its holdings in Wells Fargo Co. and established a 5.6% stake in Anheuser-Busch (BUD : Anheuser-Busch Companies, Inc.
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Last: 41.22-0.15-0.36%
4:02pm 03/03/2006
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BUD41.22, -0.15, -0.4%) and 0.5% stake in Wal-Mart Stores Inc. (WMT : Wal-Mart Stores, Inc.
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Last: 45.33+0.27+0.60%
4:00pm 03/03/2006
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WMT45.33, +0.27, +0.6%) . Berkshire holds a 5.7% stake in Wells Fargo.
Buffett cautioned his investors not to expect "miracles" from Berkshire's equity portfolio.
"The likelihood is that their per-share earnings, in aggregate, will grow 6% to 8% per share over the decade and that stock prices will more or less match that growth."
The price of Berkshire Hathaway's A-listed shares (BRKA : berkshire hathaway inc del cl a
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Last: 87,490.00+490.00+0.56%
3:51pm 03/03/2006
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BRKA87,490.00, +490.00, +0.6%) rose $490 Friday to close at $87,490. The company's B-listed shares (BRKB : berkshire hathaway inc del cl b
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Last: 2,911.40+18.40+0.64%
4:00pm 03/03/2006
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BRKB2,911.40, +18.40, +0.6%) added $18.40 to $2,911.40.
"Berkshire had a decent year in 2005," Buffett said in his annual letter to shareholders.
Nice eye-opening contribution to the thread---thanks.
Thanks for those salient facts.
Two points----BH's gotta dish out the "gold at the end of the rainbow PR" to look good for the Wall Street analysts---b/c in the last analysis---like the losing NYT giving know-nothing Pinch a raise and a bonus---this looks good to stockholders.
If s/h lose confidence and bail out-----disaster looms.