This is quite sad news for Warren Buffet that his Berkshire Hathaway just got a big loss of $3 billion this week when President Donald Trump announced restrictions on European travel to the US in response to the coronavirus threat, which sends airline stocks to hell almost. I personally feel sad for those who have brought the stocks for Airlines but this is a game win and loss is just a common thing in this business.
Before we get further details about the stock let me tell you something about Berkshire Hathaway. This airline has an annual growth in book value of 19.0% to its shareholders since 1965. This company is popular for its control and leadership of Warren Buffett.
Think that’s enough for you to know what this company so let’s move on to our today’s article. Now as we know that Buffett got this huge loss but the real thing is that he is not that much worried about this because he is recently said that investors with a great mind should celebrate this chance to buy these quality stocks at a much lower price. Now you know what to do, this company is the best company now if you buy stocks of this company now in the future they will be more expensive than you think.
There is a war going on, on the price of oil between several countries like Saudi Arabia, Russia, and other oil producing countries, who make us believe that they will boost airlines’ profits by slashing their fuel costs. However, Trump has also declared that to support all airlines along with some other industries which are suffering from the coronavirus pandemic.