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Buffet is not going to change strategy because of coronavirus

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Buffet is not going to change strategy because of coronavirus
February 26
09:00 2020

A famous American billionaire Warren Buffett has issued an annual statement for investors and gave an interview on this occasion. The billionaire believes that the coronavirus epidemic cannot serve as a reason for adjusting the investment strategy in the stock market.

However, the US stocks have declined sharply because of the fears that the epidemic will spread outside of China. Just on Monday, the decline passed the mark of 3%.

Warren Buffett said the long-term outlook had not changed. The investor is confident that the market is able to cope with the recession, and that the long-term business prospects are simply physically unable to change in a few days.

Berkshire Hathaway is Warren Buffett’s brainchild. Its net profit for the last quarter of last year has amounted to 29.2 billion US dollars. The figure is $ 17,909 in terms of one share. In the previous year, the indicators were much more modest – a net loss of $ 25.4 billion or $ 15,467 loss per share.

The operating profit has fallen to $ 4.4 billion, i.e. by 23%. The deterioration in the performance of the company’s insurance division caused the drop.

Last year, the growth in the value of Berkshire securities amounted to 11%. For the same period, the S&P 500 stock index has grown by 31.5%. Thus, the company showed a serious lag behind the average growth rate. Strong reporting and Buffett’s statements, made the investment company’s stocks rise 0.9% on Tuesday.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group

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