Warren E. Buffett’s Berkshire Hathaway is often viewed as a barometer of the American economy thanks to its vast collection of businesses – from insurance to railways to candy.
In this regard, its performance last year reflected the country’s overall economic performance.
Berkshire reported Saturday that it earned $ 45.2 billion for 2020, a 48 percent year-over-year decrease, while operating income declined. While the pandemic hit many businesses, earnings rose 23 percent in the fourth quarter as stock investments were supported by rising markets.
In his annual letter to investors accompanying the results – read by the legions of Mr. Buffett’s followers every year – the billionaire shared his thoughts on the company’s performance, but gave little new insight into matters like those, the will follow him as leader of the conglomerate he leads for decades.
