Despite the huge net loss, “the results show Berkshire’s resilience,” said James Shanahan, an Edward Jones & Co analyst who rates Berkshire “neutral.”
Investors closely watch Berkshire because of Buffett’s reputation, and because results from the Omaha, Nebraska-based conglomerate’s dozens of operating units often mirror broader economic trends. But it said direct losses have not been material, despite higher costs for materials, shipping and labour.
Buffett urges investors to ignore the fluctuations, and Berkshire will make money if stocks rise over time.Article content
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