[ad_1]
Stocks plummeted due to Corona 19 crisis
I can’t find an investment destination and hold about 167 trillion won cash.
Warren Buffett.
The Berkshire Hathaway investment company, led by President Warren Buffett (89), called ‘Investor Precious’, also received a direct attack on the new coronavirus infection (Corona 19).
According to the Wall Street Journal (WSJ) and Bloomberg News in the second (local time), Berkshire Hathaway posted a net loss of $ 4.97 billion (approximately 60.5843 billion won) in the first quarter. In the same period last year, it had a net income of $ 2.16 billion.
The shares invested by Berkshire Hathaway did not prevent a crash in the Corona 19 crisis, reflecting the loss in valuation of the held shares.
However, with the exception of the investment sector, Berkshire Hathaway’s first quarter operating profit increased to $ 5.8 billion, 5.6% more than in the same period last year. Revenue in the insurance sector contributed to operating profit.
“The effects of blocking Corona 19 accelerated in the second half of March and continue through April, negatively affecting most companies,” said Berkshire Hesway. I explained
Berkshire Hathaway has $ 137 billion in cash (about 167 trillion won) at the end of the first quarter because it couldn’t find the right investment, Bloomberg News said. This is a $ 10 billion increase from the end of last year.
Berkshire Hathaway bought shares worth $ 1.8 billion in the first quarter and $ 1.7 billion in treasury stock separately.
In the first quarter, the Standard & Poor’s (S & P) 500 index fell 12%, while Berkshire Hathaway (Class A) shares fell 19%.
Buffett will hold an annual general meeting of shareholders in Omaha, Nebraska, this afternoon.
However, following Corona 19 this year, ordinary shareholders are not present, and the general meeting of shareholders is broadcast online to shareholders. At the general meeting, will be attended by President Buffett and Greg Abel, Vice President of the Non-Insurance Division.
Reporter Kim Myeong-il, Hankyung.com [email protected]
Ky Hankyung.com, which prohibits unauthorized reproduction and redistribution
