Dramatic Drop on Berkshire Earning for This Year

Dramatic Drop on Berkshire Earning for This Year

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By the end of this month Berkshire Hathaway released this first quarter financial statements. This time it does not looks good as they did a tear earlier.  Last year the company earned $3.6 billion but projections for this year says that it will dramatically dropped to $1.5 billion. That is a drop of almost 58%. This declines is directly attributed to insurance losses. Some $1.7 billion pretax losses are directly attributed to insurance damages suffered in the earthquake and tsunami disaster in Japan, heavy flooding in Australia and earthquake in New Zealand.

The insurance company giant is now facing the worst quarter on the industries history and probably the same is true with other related companies. On the estimate Berkshire own an average of 80 companies in different industries including shares and investments on companies like Coca-Cola and Wells Fargo & Co.

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