Berkshire Hathaway Chairman Warren Buffett spoke from the company's annual shareholder meeting in Omaha, Nebraska.
said that the conglomerate has sold the entirety of its equity position in the U.S. airline industry. The prior stake, worth a collective several billion dollars, included United, American, Southwest and Delta Airlines.
"The world has changed for the airlines. And I don't know how it's changed and I hope it corrects itself in a reasonably prompt way," he said. "I don't know if Americans have now changed their habits or will change their habits because of the extended period." But "I think there are certain industries, and unfortunately, I think that the airline industry, among others, that are really hurt by a forced shutdown by events that are far beyond our control," he added.of its airline holdings, Buffett answered "yes."
He explained: "When we sell something, very often it's going to be our entire stake. We don't trim positions."that showed Buffett and his lieutenants built up the conglomerate's cash stockpile and only nibbled at equities during the violent stock market rout in March. The company posted a record $137 billion in cash and equivalent funds on its balance sheet by March 31, which represents a $10 billion addition from the $127 billion it reported at the end of 2019. It also reported aThe company spent just $1.8 billion buying stocks and just $1.7 billion repurchasingshares during the first quarter of 2020.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Berkshire Hathaway annual meeting live updates: Warren Buffett to address coronavirus, stock lossesFollow the highlights of Berkshire Hathaway's annual meeting here. Warren Buffett is set to comment on the coronavirus, the state of the American economy and whether he sees any value in the sell-off.
Consulte Mais informação »
Warren Buffett, Berkshire Hathaway sold its airline stocks in April - Business InsiderWarren Buffett's Berkshire Hathaway ditched the 'big four' airline stocks in April, driving $6.1 billion in stock sales
Consulte Mais informação »
Warren Buffett’s Berkshire Hathaway Reports $49.7 Billion Loss for First QuarterBerkshire Hathaway swung to a first-quarter loss as the selloff in markets hit the company’s vast investments, though the company’s operating earnings rose in the quarter.
Consulte Mais informação »
Here's what to expect from Warren Buffett during Berkshire Hathaway's first virtual annual meetingBerkshire's cash pile has left investors wondering whether Warren Buffett has found some attractive investments after the market's record plunge.
Consulte Mais informação »
Warren Buffett says the economy will overcome coronavirus: 'Nothing can basically stop America'Warren Buffett said he is optimistic that the U.S. economy will re-emerge even after being dealt a body blow by the coronavirus pandemic.
Consulte Mais informação »
Warren Buffett Says ‘American Magic’ to Overcome Coronavirus Uncertainty“We’ve faced tougher problems and the American miracle, the American magic, has always prevailed,” Warren Buffett said via livestream at Berkshire Hathaway’s annual meeting
Consulte Mais informação »