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.
      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.To get more news about WikiFX, you can visit wikifx news official website.
      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.