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Goldfinger

Berkshire's Net Falls 18% On Lower Insurance Prices

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http://www.bloomberg.com/apps/news?pid=206...&refer=home

Feb. 29 (Bloomberg) -- Billionaire investor Warren Buffett's Berkshire Hathaway Inc. said fourth-quarter profit fell 18 percent on declining insurance rates.

Net income decreased to $2.95 billion, or $1,904 a share, from $3.58 billion, or $2,323, a year earlier, the Omaha, Nebraska-based company said today in a statement. Berkshire gets about half its profit from insurance units, including business insurer National Indemnity Co. and auto insurer Geico Corp.

...

``The party is over,'' Buffett said in his annual letter to shareholders. ``It is a certainty that insurance industry profit margins, including ours, will fall significantly in 2008. Prices are down.''

I told you he would screw up this time.

:lol: OK, now I better run...

EDIT: Shouldn't have sold his silver back then. And then he totally ignores gold, I heard.

Edited by Goldfinger

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--- "The stock fell $250, or 0.2 percent, to $140,000 at 4:01 p.m. in New York Stock Exchange composite trading" .

:o Buffett is really losing it, isn't he?

:lol: Sorry, this is just an attempt of me getting RB back out of the woods.

Edited by Goldfinger

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Profits fell 18%?? That is nearly as bad as interest rates falling from 5% to 4% on a savings account.

Buffett only managed $3bn of profits in the 4th quarter from investing in other companies - what a loser!!!

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http://www.bloomberg.com/apps/news?pid=206...&refer=home

I told you he would screw up this time.

:lol: OK, now I better run...

EDIT: Shouldn't have sold his silver back then. And then he totally ignores gold, I heard.

Warren may have lost some money in this market but probably not as much as many are about to lose who have bet too much on where the herd are gambling. Be warned: nothing is a one-way bet and the herd keep on buying when the smart money has already left. The property market comes to mind. The rules are the same for all speculative buys.

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Warren may have lost some money in this market but probably not as much as many are about to lose who have bet too much on where the herd are gambling. Be warned: nothing is a one-way bet and the herd keep on buying when the smart money has already left. The property market comes to mind. The rules are the same for all speculative buys.

Fair enough. My point is, had he only kept his silver...

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Profits fell 18%?? That is nearly as bad as interest rates falling from 5% to 4% on a savings account.

Buffett only managed $3bn of profits in the 4th quarter from investing in other companies - what a loser!!!

I wish I had his problems............

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:o Buffett is really losing it, isn't he?

:lol: Sorry, this is just an attempt of me getting RB back out of the woods.

dont apologise, i was quoting the miniscule drop in share price to illustrate exactly what you have - that it is a drop in the ocean.

probably too subtle for my own good.

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  • 296 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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