Buffett’s Berkshire Reduces Buybacks Amid Stock-Purchasing Spree

Associated Press

Buffett’s firm reports $44B loss as portfolio value falls

Warren Buffett’s company reported a $43.76 billion loss in the second quarter as the paper value of its investments plummeted and he bought significantly fewer stocks, but Berkshire Hathaway’s many operating companies generally perf ormed well. Berkshire said Saturday that a largely unrealized $53 billion decline in the value of its investments forced it to report a loss of nearly $44 billion, or $29,754 per Class A share. The stock prices of three of Berkshire’s biggest investments — Apple, American Express and Bank of America — all fell significantly during the second quarter.