Warren Buffett says he was ‘100% responsible' for Berkshire Hathaway's bad bet on Paramount: ‘We lost quite a bit of money' [Yahoo! Finance]
Berkshire Hathaway Inc. New (BRK.B)
Last berkshire hathaway inc. new earnings: 11/2 07:00 am
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Source: Yahoo! Finance
At Berkshire's annual meeting on Saturday, 93-year-old CEO Buffett told shareholders that he was directly responsible for the company's Paramount share purchases in 2022 , but that the company had now changed course. “I was 100% responsible for the Paramount decision,” Buffett said. “It was 100% my decision, and we sold it all and we lost quite a bit of money, and that happens in this business, too.” Berkshire had already cut its holdings of the media company—which owns the film production company Paramount Pictures, broadcaster CBS, and the streaming service Paramount+—by a third from 93.7 million shares to 63.3 million shares that were worth about $930 million at the end of 2023. Buffett had previously been critical of streaming, saying in an April interview with CNBC that Paramount “isn't fundamentally that good a business,” even as Berkshire was invested in the company. At the time, he was ambivalent, saying “we'll see what happens.” The company's bum Paramount bet made B
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News
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- Warren Buffett Has Spent More Buying This Stock Than He Did With Apple, Chevron, Coca-Cola, American Express, and Occidental Petroleum, Combined! [Yahoo! Finance]Yahoo! Finance
- Warren Buffett's Best Tips from the 2024 Berkshire Annual Meeting [Yahoo! Finance]Yahoo! Finance
BRK.B
Earnings
- 5/4/24 - Beat
BRK.B
Sec Filings
- 5/17/24 - Form 4
- 5/15/24 - Form 13F-HR/A
- 5/15/24 - Form 13F-HR/A
- BRK.B's page on the SEC website