Omaha, Neb.-based Berkshire Hathaway contributions loss of profits after hard
A recession abused Exchange and terrorist attacks do Omaha Berkshire Hathaway Inc. by a slight profit in 2001, but they have the effect that companies saw their first decline in the value of 36 years.
Berkshire, in 2001 in an annual report released Saturday, reported profits of $ 795 million and $ 521 per share, on revenue of $ 37.7 billion.
He presented a decrease of 76 per cent of the profits before one year, but the company remained in the dark. Gains were the weakest, it has been since 1995.
At the same time, Berkshire’s reduced the book value 6.2 per cent to $ 37920 per share.
In 2000, Berkshire has won $ 3.3 billion, representing a share of $ 2185, the turnover of $ 34 billion. Its value has increased by 6.5 per cent this year.
There were two reasons for the decline in value in 2001 in book form:
The share price fell institutions such as the stock market in 2001 to combat it.
Its insurance divisions have suffered $ 2.4 billion in losses from the September 11 terrorist attacks.
Buffett’s Berkshire uses the book value - the difference between assets and liabilities - to measure their performance against the benchmark Standard & Poor’s 500 Index stocks. The S & P 500 fell by 11.9 per cent in 2001, compared to 6.2 ‘Berkshire percent of the value decline. Berkshire value earned an average of 22.6 per cent per annum from 1965 to 2001, compared with the S & P, won the 11 per cent per annum.
“Though our corporate performance last year was satisfactory, my performance was anything but,” said Buffett. “I manage most of Berkshire Equity Portfolio, and my results were bad, as in several years.
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