However, Berkshire did post a net loss of $2.69 billion in the third quarter, versus a $10.34 billion gain a year before. The quarterly loss was primarily due to a plunge in Berkshire’s equity investments amid the market’s rollercoaster ride.
Berkshire endured a $10.1 billion loss on its investments during the quarter, bringing its 2022 slump to $63.9 billion. The legendary investor told investors again that the amount of investment losses in any given quarter is “usually meaningless.”
Shares of Buffett’s conglomerate have been outperforming the broader market this year, with Class A shares dipping about 4% versus the S&P 500′s 20% decline. The stock slipped 0.6% in the third quarter.
