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Berkshire Letter Highlights: Shocking $25BN Loss; Buffet Bashes "Deficit Doomsayers", Emerges As Closet "Austrian"

February 23, 2019

In its latest (surprisingly short at just 14 pages) annual letter released at 8am on Saturday, Warren Buffett’s Berkshire Hathaway shocked investors when it announced that Q4 net earnings plunged to a $25.4 billion loss, or ($15,457) per share, from a $32.6 billion profit, or $19,790 per share a year prior, due to an unexpected write-down at Kraft Heinz and unrealized investment losses even as revenues increased from $58.8 billion to $63.7 billion for the fourth quarter, while operating earnings increased from $3.33 billion to $5.72 billion due to increased earnings from Berkshire’s railroads, energy business and other segments.

 

FULL REPORT

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