February 27, 2010
– Comments (5) |
RELATED TICKERS: BRK-A
Warren B delivers the usual financial tour de force.
Remember when Berkshire actually made money producing and selling things????
No wonder Charlie Munger, Warren Buffett's parter says IT'S OVER!!!!!!
would you do fooldom a favor and can it for a while?
Just a guess but I think Warren Buffett will be a little more accurate than you over the next couple decades (or however long he lives)
And BRK does make money producing stuff. try reading the report
OMAHA, Neb. --
Berkshire Hathaway Inc.'s fourth-quarter profit bounced back sharply, thanks largely to an unrealized $1 billion gain on derivative contracts and investments.
Warren Buffett's company said Saturday that its insurance and utility divisions performed well enough to help offset weakness in subsidiaries hurt most by the weak economy, such as NetJets, Acme Brick and other manufacturing and retail businesses.
Berkshire generated $3.056 billion in net income, or $1,969 per Class A share, during the quarter. That's up from $117 million net income, or $76 per share, a year ago.
The three analysts surveyed by Thomson Reuters had expected Berkshire to report fourth-quarter earnings per share of $1,208.33 on average. http://www.forbes.com/feeds/ap/2010/02/27/business-financials-us-earns-berkshire-hathaway_7393255.html?boxes=financechannelAP
Dudemonkey... I see you have a link to the shareholder letter,didn't realize that when I posted the same..... :) TS
Last year we saw, in one instance, how sound-bite reporting can go wrong. Among the 12,830
words in the annual letter was this sentence: “We are certain, for example, that the economy will
be in shambles throughout 2009 – and probably well beyond – but that conclusion does not tell us
whether the market will rise or fall.” Many news organizations reported – indeed, blared – the first
part of the sentence while making no mention whatsoever of its ending. I regard this as terrible
journalism: Misinformed readers or viewers may well have thought that Charlie and I were
forecasting bad things for the stock market, though we had not only in that sentence, but also
elsewhere, made it clear we weren’t predicting the market at all. Any investors who were misled
by the sensationalists paid a big price: The Dow closed the day of the letter at 7,063 and finished
the year at 10,428.
alstry you should really read the whole letter.