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Warren Buffett loses nearly $4 billion as Apple sinks


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Warren Buffett's Berkshire Hathaway lost more than $3 billion Friday as Apple's stock headed for its worst day on Wall Street in more than four years.

Apple — poised to post its fifth consecutive week of losses for the first time since 2012 — was last seen down more than 6.9 percent, on track for its worst one-day move since January 2014. The Oracle of Omaha owned more than 250 million shares of the Cupertino, California-based company as reported in Berkshire's latest holdings filing at the Securities and Exchange Commission.

At Friday's low price for Apple of $206.38, Buffett is down $3.99 billion. At current prices midway through the trading day, Buffett las lost $3.7 billion on paper. Apple closed at $222.22 on Thursday before the disappointing report."

Warren loses billions

RV/Derek
http://www.rvroadie.com Email on the bottom of my website page.
Retired AF 1971-1998


When you see a worthy man, endeavor to emulate him. When you see an unworthy man, look inside yourself. - Confucius

 

“Those who can make you believe absurdities, can make you commit atrocities.” ... Voltaire

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$4 billion is a bit less than 5% of Warren's personal net worth, so I'm pretty sure he can still afford those McDonald's McMuffins he favors for breakfast. ;)

Dutch
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15 minutes ago, Kirk Wood said:

We could start a "go fund me" page to help the poor fellow out?

 

McDonald's would probably give the McMuffins to him just for the endorsement publicity... ;) 

Dutch
2001 GBM Landau 34' Class A
F-53 Chassis, Triton V10, TST TPMS
2011 Toyota RAV4 4WD/Remco pump
ReadyBrute Elite tow bar/brake system

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You don't make any profit or suffer any loss until the position is closed.  Berkshire Hathaway has been a long time holder of Apple stock.  So I would assume their cost basis is well south of today's price. 

Jim

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Hey Jim!

It would have been less painful if he hadn't upped his Apple shares just a few months ago.

This from that article:

"Apple's stock sank after the company's iPhone shipments for last quarter fell short of analyst expectations. The company also issued a financial outlook for the rest of the year that underwhelmed some investors. Those factors foiled the company's stronger-than-expected earnings and revenue.

However, Buffett's losses are likely even more painful: he told CNBC at the end of August that he bought more Apple shares since the end of June , when he reported that he bumped his stake up by 5 percent.

"We bought just a little [more]," he said about two months ago on CNBC in an interview with Becky Quick ."

Yes guys I agree! I'm sure he can afford whatever he wants.

RV/Derek
http://www.rvroadie.com Email on the bottom of my website page.
Retired AF 1971-1998


When you see a worthy man, endeavor to emulate him. When you see an unworthy man, look inside yourself. - Confucius

 

“Those who can make you believe absurdities, can make you commit atrocities.” ... Voltaire

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