Defend Truth

Buffet’s Berkshire Hathaway triples its profit

Buffet’s Berkshire Hathaway triples its profit

From afar, it looks just like any other annoyingly good quarter for the “Sage of Omaha’s” company. Profit was $3.2 billion, almost triple the $1.1 billion it made in the same quarter last year. But if you expect to see the really good signs for the global economy, well, you might have to wait. It turns out, most of the profits were made by derivative trade (similar to Goldman Sachs in the same quarter).  Many of Berkshire’s operating businesses, like flooring company Shaw, Acme Brick, Nebraska Furniture Mart and NetJets, actually struggled to turn a profit, with NetJets losing money and having to lay off staff. Berkshire’s manufacturing arms, Acme Brick, paint company Benjamin Moore, Forest River RVs and Iscar Metalworking fared even worse in the recession environment. Read more: AP

Gallery

Please peer review 3 community comments before your comment can be posted

[%% img-description %%]

The Spy Bill: An autocratic roadmap to State Capture 2.0

Join Heidi Swart in conversation with Anton Harber and Marianne Merten as they discuss a concerning push to pass a controversial “Spy Bill” into law by May 2024. Tues 5 Dec at 12pm, live, online and free of charge.

A South African Hero: You

There’s a 99.8% chance that this isn’t for you. Only 0.2% of our readers have responded to this call for action.

Those 0.2% of our readers are our hidden heroes, who are fuelling our work and impacting the lives of every South African in doing so. They’re the people who contribute to keep Daily Maverick free for all, including you.

The equation is quite simple: the more members we have, the more reporting and investigations we can do, and the greater the impact on the country.

Be part of that 0.2%. Be a Maverick. Be a Maverick Insider.

Support Daily Maverick→
Payment options