Buffet’s Berkshire Hathaway posts $50 billion in quarterly losses as pandemic hurts

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Buffet’s Berkshire Hathaway posts $50 billion in quarterly losses as pandemic hurts

On Saturday, the 2nd of May 2020, the Omaha, Nebraska-based American multinational conglomerate holding company of Warren Buffet, Berkshire Hathaway Inc., had reported a record $50 billion in quarterly losses citing that the conglomerate’s performance had been shaky on several major operating businesses, while several Wall St.

analysts had blamed the pandemic behind Buffet’s multi-billion US Dollar in losses as the American investment behemoth had stayed off-the-radar during the pandemic-driven sell-off in March whose usual motto had always been to “buy” when the market is selling off, suggesting either a ‘V’ or ‘W’ shaped recovery of a recessed US economy might still have been miles away in the eyes of the 89-year-old Chief Executive of Berkshire Hathaway.

On top of that, Berkshire had also added in its quarterly earnings’ report on Saturday (May 2nd) that almost all of its 90 businesses had been facing off “moderate to severe” scale of negative energy stemmed from the pandemic outbreak, while Berkshire’s revenues from its essential businesses had slowed down substantially last month.

Aside from that, Berkshire was also quoted saying in its Saturday’s (May 2nd) statement that the conglomerate holding company had purchases equities worth of $1.8 billion over the first quarter, while it had sold off US stocks worth of net capital of $6.1 billon last month, pointing towards a caution in buying from the 89-year-old billionaire as beforementioned.

Meanwhile, citing Buffet’s decisions highly unusual who had a long history of feeding on to common investors’ frets, an analyst at Edward Jones & Co. in St. Louis, Jim Shanahan said on Saturday (May 2nd), “Historically, Buffett has been so visible in times of crisis, and encouraged investors to take advantage of market selloffs, but if he doesn’t see opportunities even in his own stock, what are we to think?