Warren Buffett on Friday, at the start of the annual meeting of the conglomerate he controls, Berkshire Hathaway

Berkshire Hathaway Reports Drop in Earnings, Driven by Investment Losse

Warren Buffett, at the conglomerate’s annual meeting, said Berkshire had been buying stock in the video game company Activision

Berkshire Hathaway, the insurance and investing conglomerate that is run by the billionaire and investment legend Warren E. Buffett

Saturday (30.04.2022) reported a significant drop in earnings in the first quarter.

That was down 53 percent from the nearly $12 billion that it earned in the same three months a year ago

Mr. Buffett said that Berkshire had been buying shares of the video game company Activision Blizzard

The company’s financial filings also showed that Berkshire had dramatically increased its investment in the oil company giant Chevron to nearly $26 billion at the end of the first quarter

Mr. Buffett, in meeting, said the stock market resembled “a gambling parlor” in recent years, adding that the speculative behavior was “encouraged by Wall Street.”

He once again emphasized that Berkshire Hathaway Energy was making big investments in renewable energy projects