Buffett also allowed Berkshire’s cash stake to rise to a record $137.3 billion from $128 billion at the end of 2019. Berkshire’s first-quarter net loss totaled $49.75 billion, or $30,653 per Class A share, reflecting $54.52 billion of losses from investments, mainly common stocks. This causes huge swings in Berkshire’s net results that Buffett considers meaningless. Vice Chairman Charlie Munger told The Wall Street Journal last month that a few small Berkshire businesses might close altogether. BERKSHIRE STOCK UNDERPERFORMS Investors have been disappointed with Berkshire, whose stock price lagged the Standard & Poor’s 500 by more than 20 percentage points in 2019, including dividends.

Source: Standard Digital May 02, 2020 13:52 UTC