[eBook] 8 Simple Rules for Investors

Whether markets are up, down, or sideways, these are the 8 guidelines that experienced traders and investors follow to maximize returns while minimizing losses.

By clicking the link above you will automatically opt-in to receive emails from FinStrategist

Berkshire's profit plunges 64% on portfolio holdings as Buffett it sells Apple

JOSH FUNK
May 04, 2024

OMAHA, Neb. (AP) -- Berkshire Hathaway's first quarter profits plummeted along with the paper value of its investments, but the company said Saturday that most of the businesses it owns outright performed well.

The company reported reported a $12.7 billion profit, or $8.825 per Class A share, in the quarter. That's roughly one-third of last year's $35.5 billion, or $24,377 per A share.

The figures were heavily influenced by a large drop in the paper value of Berkshire's investments. Buffett encourages investors to pay more attention to the conglomerate's operating earnings that exclude the investment figures. Operating earnings jumped 39% to $11.222 billion from last year's $8.065 billion as its insurance companies showed strong results.

On a per share basis, this year's first quarter operating figure amounts to $7,796.47 per Class A share, beating three analysts' estimates by FactSet Research, who predicted $6,701.87 per Class A share.

Buffett was a net seller of $17 billion in stocks during the quarter, including trimming about 13% of Berkshire's massive Apple stake. At $135.4 billion, the iPhone maker still accounts for the biggest share of Berkshire's $364 billion portfolio. Buffett said he expects it to remain so even up to when his successor Greg Abel takes over.

The estimated value of Berkshire's Apple stake suggests Buffett sold off more than 100 million shares. In the past, Buffett has said he invested in Apple's stock because of how devoted consumers are to the company's products, similar to consumer brands he loves like Berkshire's own See's Candy.

Apple CEO Tim Cook, who is at the Berkshire meeting, told CNBC that he still considers it a privilege to have Berkshire as a major shareholder, and he knew about the sales before Berkshire disclosed them Saturday.

Berkshire reported a $2.6 billion underwriting profit at its insurers, up from $911 million a year ago, as Geico in particular continued to improve its results. However, BNSF railroad's profits dropped 8% to $1.143 billion.

Most of Berkshire's many other companies delivered solid results, including a 72% jump in operating profits at the utility unit, adding $717 million to Berkshire's total.

Revenue grew 5% to $89.87 billion in the quarter. The two analysts who reported estimates to FactSet predicted $87.044 billion.

With no major acquisitions in sight, Berkshire's cash pile climbed to a record $188.993 billion even after it spent $2.6 billion repurchasing shares during the first three months of the year. Holdings including Geico insurance, BNSF railroad, several major utilities and an assortment of dozens of others keep generating mountains of cash.

"We'd love to spend it but we won't spend it unless we're doing something with very little risk that will make us a lot of money," Buffett said.

Continue Reading...

Popular

The US fines Middle Eastern airline Emirates $1.8 million for flights that passed too low over Iraq

WASHINGTON (AP) — The Transportation Department said Thursday that it fined Middle Eastern $1.8 million for flights in regions off-limits to U.S. airlines while it allowed JetBlue Airways to sell seats on the planes.

Roku Eyes Enhanced Advertising Tech - Inks Pact With Fandango To Boost Ad Campaign Analytics

Roku reported Fandango partnership; aims to optimize ad spend and boost ticket sales via enhanced insights and advertising technology.

The Greatest Legal Transfer of Wealth in History Is Underway - Ad

The man CNBC called "The Prophet" bought AAPL at $0.35, AMZN under $2.50, and NVDA before it soared 1,200%. Recently, he sat down for an exclusive interview, revealing EXACTLY where to put your money this year. An investment vehicle he's so confident in, he says he'd put 50% of his kids' inheritance into this stock.

Microsoft Is Betting Big on AI, Outpacing Rivals with New Strategy

Satya Nadella, CEO of Microsoft, bet on AI future by partnering with OpenAI and investing in startups. Analysts see Microsoft as top public cloud leader by 2032.

The No. 1 Crypto of 2024 (Trading for Less Than 10 Cents) - Ad

25X Predicted For THIS Crypto -- Starting on June 24th, this tiny 3-cent crypto just partnered with one of the biggest companies in the world... Amazon. And one team of crypto experts has identified it as the most promising crypto of 2024. You can see all of the details surrounding the No. 1 Crypto of 2024 here.

Obama's 2024 Surprise: His Secret Plan to Finish What He Started - Ad

The ONLY way Democrats can keep the White House is to bring back Barack Obama. And there's a sneaky (yet 100% legal) way to achieve this. In fact, this disaster scenario is already underway. See what they're up to, and how you can get ready today.

Top 2 Utilities Stocks That May Rocket Higher In June

The most oversold stocks in the utilities sector presents an opportunity to buy into undervalued companies.

Elon's New A.I. Device is About to Shock the World - Ad

Using this device you see... Elon Musk just tested a new type of A.I. that according to Wired Magazine will usher in... "The next step in human evolution."

Following Historic Conviction, Donald Trump Is Facing More Criminal Charges With No Endgame In Sight

In a landmark legal battle, former President Donald Trump was convicted in New York last week, marking a significant moment as he faces other multiple charges across the U.S.

What's Going On With Novavax Stock?

Novavax, Inc. shares are trading higher Wednesday, and the stock is up by more than 300% over the past month. Here's a look at what's going on.

What's the #1 Stock to Build Generational Wealth Right Now? - Ad

One Wall Street millionaire will give you a surprising answer. He bought AAPL at $0.35 and AMZN under $2.50. Recently, he sat down for an exclusive interview, revealing EXACTLY where to put your money this year. An investment vehicle he's so confident in, he says he'd put 50% of his kids' inheritance into this stock.

Norwegian wealth fund to vote against Elon Musk's Tesla pay package

Norway's sovereign wealth fund operated by Norges Bank Investment Management said Saturday it will vote against Elon Musk's hefty CEO compensation package during Tesla's annual meeting on Thursday.

Get Your Money Out of U.S. Banks Immediately - Ad

In 2022, Marc Chaikin warned: "A major shift in our financial system could lead to a RUN ON THE BANKS in 2023." Three months later, we saw the biggest bank failures since 2008. Today, Marc warns it could soon happen again.

Boil-water advisory lifted in Atlanta after water system problems

ATLANTA (AP) — Residents in Atlanta no longer must boil water before drinking it, officials said Thursday, six days after a west of downtown affected service and spurred the advisory.

"If I Had To Pour Every Single Penny of My Retirement Into Just ONE STOCK..." - Ad

The former Goldman Sachs VP -- who called everything from Microsoft's 1,100% surge... to the death of the 60/40 portfolio -- is now stepping forward with his most explicit message yet: "Make this ONE STOCK the cornerstone of your portfolio."

Disneyland employee dies after falling from moving golf cart in theme park backstage

ANAHEIM, Calif. (AP) — A Disneyland employee died after she fell from a moving golf cart in the backstage area of the Southern California theme park, authorities said Saturday.

Younger Generations Are Accelerating The Demise Of Mutual Funds

Mutual fund decline continues as ETF ownership rises, driven by lower costs and personalized solutions. Advisors must adapt to meet investor needs.

Exposed: 3 Cent Crypto to Explode June 24th? - Ad

Chris Rowe, the man who spotted 44 different coins that have returned over 100%, is now making the biggest crypto call of his ENTIRE career.... Because a powerful crypto event will trigger on June 24th... Sending hundreds of tiny cryptos soaring 5X, 50X, even 100X -- in just days.

JPMorgan's Top Strategist Sticks To Bearish S&P 500 Forecast, Warns Of 2008-Like Crash: 'Equities Continue To Price In Little Downside Risk'

JPMorgan Chase maintains bearish outlook on US stock market, predicting decline despite record highs. Fed may adjust projections and risks are abundant, but S&P 500 forecasts remain unchanged.

Apple's Warranty Updates, iPhone Support Duration, And More: This Week In Apple News

Apple Inc. has been in the spotlight this week with policy changes and revelations. From cracked screen repairs to iPhone support period, here's a round-up of the top stories.

PASSIVE INCOME (by this evening) - Ad

Hey, I have an unique opportunity for those looking for additional ways to earn income right now. It can be done from home. You can do it in your spare time. And it only takes 6 clicks and as little as $50.

Southwest Airlines CEO says he won't resign. A hedge fund is trying to get him fired

DALLAS (AP) — The CEO of said Wednesday he will not resign in the face of pressure from that wants him fired and that his leadership team will produce its own plan to boost the airline's .

Trump's company: New Jersey golf club liquor license probe doesn't apply to ex-president

ATLANTIC CITY, N.J. (AP) — Former president Donald Trump is not the holder of liquor licenses at his three New Jersey golf clubs, his company said Tuesday in response to an inquiry by the New Jersey attorney general's office into whether his convictions in a New York case might affect those licenses.

One Billionaire's Genius Plan to Save the US Dollar From Collapse? - Ad

If you're holding any US dollars, you need to see what this tech titan is up to now... This could be the biggest change to our financial system since the creation of the Federal Reserve in 1913. Hurry... He has said he could flip the switch "as early as mid 2024."

Stocks Ease Ahead Of Wednesday's Key Events, Apple Jumps To Record Highs, Bitcoin Tumbles To $66,500: What's Driving Markets Tuesday?

Wall Street traded slightly in the red on Tuesday morning as markets took a cautious stance ahead of the inflation report and the Federal Open Market Committee (FOMC) meeting on Wednesday.

Nvidia 10-for-1 stock split goes into effect after stock price for the chipmaker doubled this year

Nvidia's 10-for-1 stock split goes into effect on Monday, giving investors nine additional shares for every one that they already own.

Warren Buffett's "Mystery Stock" - Ad

Billionaires are plowing millions of dollars into a new technology that early estimates say could generate more wealth than A.I. -- and determine the future of companies like Microsoft. The problem? Most investors have no idea it's happening, or how to profit on it. This expert just went public with all the details, including which stocks to jump on immediately.

Visa's Mark Nelsen wants to make your plastic credit card obsolete

Mark Nelsen, Visa’s global head of consumer payments, sees a world where the plastic card in your wallet becomes increasingly obsolete and the standard 16-digit account number becomes worthless.

Earn Instant Cash Flow (using THIS tactic) - Ad

Can you imagine earning $1,118,721/hr? That's what greedy Wall Street elites have been pocketing for 22 straight years. And now it's available to you.

Myanmar's economy in crisis as civil strife disrupts trade and livelihoods

BANGKOK (AP) — Myanmar, once a thriving emerging economy, is struggling to regain momentum as the country’s civil war increasingly disrupts trade and livelihoods.

Community health centers' new crisis: The need for backup power

HEALDSBURG, Calif. (AP) — The 2017 , which killed 22 people and destroyed 5,600 buildings, was already a stressful time at Alliance Medical Center’s clinic here, as workers who picked grapes in the nearby vineyards streamed into the nonprofit community health center with burns, symptoms of smoke inhalation, and other crises.

What President Biden's New Law Means for Investors - Ad

President Biden just signed a new law approving billions of dollars for one small but growing industry, and investors like Bill Gates and Peter Thiel are all over it. This expert just went public with all the details, including which stocks to jump on immediately.

Production starts at Senegal's first offshore oil project

DAKAR, Senegal (AP) — Production has started at Senegal's first offshore oil project, the Australian group Woodside Energy said Tuesday, as the country's new government eyes higher profits from natural resources.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright trendadvisor.net
Privacy Policy | Terms of Service