Monday, August 8, 2022

Berkshire-Hathaway loses $48.3 billion

 Berkshire-Hathaway lost $48.3 billion in its most recent quarter.

The company owns many companies, including Tim Horton’s, Burger King, Popeyes and Kraft-Heinz.

It’s major investments are in re-insurance and insurance companies, including Geico.

Despite the huge net loss, “the results show Berkshire’s resilience,” said James Shanahan, an Edward Jones & Co. analyst who rates Berkshire “neutral.”

“Businesses are performing well despite higher interest rates, inflation pressures and geopolitical concerns,” he said. “It gives me confidence in the company if there is a recession.”