Buffett’s Berkshire Hathaway books $43.8bn loss after slide on equity markets

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City AM

By Charlie Conchie Warren Buffett’s Berkshire Hathaway was hit by the global rout on equity markets in the second quarter of the year as it booked a hefty $43.8bn loss. Net loss at New York-listed Berkshire was equal to $29,754 per Class A share, and well down from a net profit of $28.1bn, or $18,488 per Class A share, in the period last year. Buffet’s firm reined in stock purchases in the second quarter amid a slide on US markets, buying $6.1bn, down from $51.1bn in the first quarter when it took major stakes in oil companies Chevron Corp and Occidental Petroleum Corp. Repurchases of its own …

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