The economist taught a generation of corporate leaders that profit should be their main motive. A new group of C.E.O.s begs to differ.
Berkshire reported earnings of $26.4 billion in the second quarter, a turnaround from its $49.7 billion loss in the first quarter, when the pandemic caused a plunge in the stock market.
Her younger brother, Warren, entrusted her with vetting requests after he announced his intention to donate nearly his entire fortune. “Warren loves to make money and I love to give it away,” she said.
Daily virus cases are setting records and fears are rising that the economic recovery is fizzling. Investors seem unfazed.
The acquisition of a gas pipeline is Berkshire Hathaway’s largest in years, quelling investor anxiety about its recent drought of deal-making.
A unit of Warren Buffett’s empire paid an inflated price for a pipe maker that used fake sales to look profitable, an arbitration panel concluded. The firm was close to bankruptcy.
Unlike his spending spree during the 2008 financial crisis, the Berkshire Hathaway chief is keeping his wallet closed.
Between the lines of “You can bet on America” were warnings not to be overconfident in predicting what the future might hold.
The huge loss reflects the hit that the crisis has inflicted on Warren E. Buffett’s vast conglomerate.
The losses aren’t coming just from the drop in stock prices. The effect of the dividend cuts sweeping through the market will hurt, too.
They poured the money into stock buybacks and dividends. Now, those hurting from the pandemic want government aid.