(Finance) – The liquid assets Of Berkshire Hathaway reaches a new record of 157.2 billion dollars at the end of September, thanks mainly to the sale of shares, compared to the mountain of liquidity of 149.2 billion in the same period a year earlier.
In the third quarter, the conglomerate founded and managed by Warren Buffett recorded operating profits up 40.6% year-on-year, to 10.761 billion, compared to 7.651 billion from the year-ago period.
In the three months, however, Berkshire reported a net loss by $12.77 billion, primarily due to losses on portfolio stocks.
“The amount of investment gains/losses in a given quarter is usually meaningless and provides net earnings (loss) per share figures that can be extremely misleading to investors who have little or no knowledge of accounting rules” – he Buffett said in a note. “To varying degrees, our operating activities have been impacted by government and private sector actions aimed at mitigating the adverse economic effects of the Covid-19 virus and its variants, as well as by developing geopolitical conflicts, supply chain disruptions and government actions to slow down inflation” – added Buffett -. “The long-term economic effects of these events cannot be reasonably estimated at this time.”