According to the publication, Berkshire explained today (Saturday) that the plunge in the world’s monetary markets weighed on its investment portfolio, whose value dropped to $328 billion, from $391 billion at the end of March. The $53 billion loss far exceeded an upbeat quarter for its companies, which improved their profitability.
More in-
It also appears that the company’s documents filed with the US Securities and Exchange Commission show that the purchases of the latest shares were reduced to about $6.2 billion during the quarter, compared to $51.1 billion between January and March – a jump that stunned Berkshire shareholders. The corporation offered 2.3 billion shares dollar in the most recent three-month period.It was also noted that Berkshire also spent $1 billion buying back its individual shares in June, a tactic used by Buffett and his financing team when they are not scouting for more interesting targets out there.