LIVE UPDATES: Warren Buffett discussed coronavirus, the economy, and stocks at Berkshire Hathaway’s annual meeting. Here are the highlights.
- Warren Buffett discussed a range of topics at Berkshire Hathaway’s annual meeting on Saturday, often touted as “Woodstock for capitalists.”
- The billionaire investor and Berkshire CEO joined Greg Abel, vice chairman of non-insurance operations, to host the virtual event and answer questions.
- The pair discussed coronavirus, the economy, stocks, and other topics.
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Warren Buffett discussed a range of topics at Berkshire Hathaway’s annual meeting on Saturday, famously described as “Woodstock for capitalists.”
The famed investor and Berkshire CEO, along with Greg Abel, vice chairman of non-insurance operations, hosted the virtual event and answers questioned posed by journalists.
The pair spoke hours after Berkshire released its first-quarter earnings. The company posted a record quarterly loss of about $50 billion, largely due to $55 billion in investment losses. It also grew its cash pile from $128 billion to $137 billion in the period, and sold about $6.1 billion in stock on a net basis in April, upending expectations that it would capitalize on the coronavirus sell-off and buy stocks on the cheap.