The Pandemic Could Cost Buffett US$46.5 Billion of Losses
According to documents released by the US Securities and Exchange Commission (SEC), Buffett ’s Berkshire Hathaway sold Bank of New York Mellon’s share worth of more than US$30 million on Tuesday and Wednesday. Before the US stock market slump in early March, Buffett increased his holding of the Bank's shares by US$359 million.To get more news about
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In view of BNY Mellon's stock price trend, Buffett had sold the shares at a loss. As Berkshire Hathaway's 11th largest stock holding, BNY Mellon's stock fell 25.7% during the year, rendering Buffett more than US$1 billion of loss so far.
Data shows that year to date, Buffett ’s Berkshire Hathaway has lost US$46.5 billion(equivalence of ¥325.5 billion), or 19% of the company's total stock positions. Among Berkshire Hathaway's stock holdings, Bank of America, Wells Fargo Bank, Apple, American Express, United Bank of America, Delta Air Lines, Coca-Cola, JPMorgan Chase, United Airlines, Kraft Heinz and BNY Mellon all saw losses of over US$ 1 billion, with over US$ 6 billion of loss in the company’s no.1 holding Apple. Only less than 10 companies' shares, including Moody ’s, Amazon, Costco, Biogene, and Teva Pharmaceuticals, had been profitable.if you want know more,
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