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. May 3, 2020 3:55 p.m.
The coronavirus scandal is rampant in the world economy. Business, commerce and public life have stagnated. With the exception of a handful of pharmaceutical and IT companies, all organizations have gained trust. Different companies face big losses. Berkshire Hathaway, a company owned by Warren Buffett, the world’s most successful capital market investor, has lost money.
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As a result of the crown, the company lost দশ 49.65 billion or হাজার 4.985 billion (approximately Tk. 432 billion rupiah in Bangladeshi currency) in the last quarter. Warren Buffett made the announcement at the Berkshire annual general meeting on digital platforms on Saturday.
CNBC, Reuters and Business Insider news
According to the news, almost all of Berkshire’s 90 businesses have suffered losses in the last quarter. The company has had to bear the loss as the business has stalled due to Corona.
Meanwhile, Buffett withdrew more than new investments in the capital market in the quarter under review. The number of shares he has bought and sold is approximately 4 times. Berkshire bought shares worth $ 1.8 billion during the reporting period. Rather, it has sold shares worth $ 6.3 billion. He has never sold so many shares in this way.
Many great analysts are surprised by their investment activities. Because you have a history of large investments in potential company stocks at low prices in times of economic downturn. That said, this is the secret key to Buffett’s success. But this time he himself has violated that mantra. And they are finding a clue in it. The crisis they are thinking about in the next few days will probably be much more serious than it will be. And that’s probably why Buffett has withdrawn from the investment.
The biggest contributors to Berkshire’s losses were large investments in four airlines. He had around কোটি 600 million in investments in these companies. Berkshire, however, sold all of its shares at a great loss.
Berkshire Hathaway had an 11% interest in Delta Airlines, 10% in American Airlines, 10% in Southwest Airlines and 9% in United Airlines. Although the company has been avoiding the aviation industry for years, it started investing in four airlines in 2016. Once again, this time airlines have sold those shares at a large loss considering the potential business impact. And through this it has avoided the risk of large losses.
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