Warren Buffett's firm reports $12.8 billion loss as investments fall but its insurers performed well - Times of India
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OMAHA: Warren Buffett 's company has reported a nearly $13 billion loss in the third quarter as the paper value of its investments fell, but the companies it owns - particularly the insurers - generally performed well. Berkshire Hathaway said Saturday that it lost $12.8 billion, or $8,824 per Class A share, in the quarter. That's significantly bigger than the $2.8 billion loss, or $1,907 per Class A share, that it reported a year ago. But most of those investment losses are unrealized because Berkshire didn't actually sell most of its stocks with its biggest holding being a massive stake in Apple. Accounting rules require it to include the value of its investments, which it put at $341.1 billion at the end of the quarter, in its earnings. Last quarter, it said its stock portfolio was worth $353 billion. That's why Buffett has long said investors are better served focusing on Berkshire's operating earnings, which exclude the value of its investments t...