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Berkshire Hathaway 4th Quarter Profit Climbs
Currency System Trading Billionaire Warren Buffett's company reported $3.34 billion in profits that included $1.63 billion in gains from foreign currency contracts.
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Currency Exchange Trading March 6, 2005 (AXcess News) Omaha - Berkshire Hathaway, Inc. (NYSE: BRK.A) released its fourth quarter results Saturday showing an astounding 40 percent rise in profits for the period. Billionaire Warren Buffett's company reported $3.34 billion in profits that included $1.63 billion in gains from foreign currency contracts. Berkshire had invested in foreign currencies, holding 12 foreign exchange contracts that were valued at $21.4 billion at year end. In his letter to shareholders, Warren Buffett quoted W.C. Fields when asked for a handout, saying "Sorry, son, all my money is tied up in currency." Buffett was defending Berkshire's belief in the shrinking value of the dollar to justify his company's investment in foreign currencies.Even with the returns garnered on foreign currencies, Berkshire made no acquisitions and stated that the company was holding $43 billion in cash waiting for the right investment.
//stockinfo.amidal.com FOREX is the world's largest and most liquid trading market. Many and many traders consider FOREX or the currency trading as the best home business opportunity you can ever venture in. Allthough it has been of a loosely guarded secret, more and more investors are turning to FOREX trading to make money and profit. This is because Forex or Currency Trading has numerous benefits & advantages over the other traditional trading vehicles, like commodities, stocks and bonds.
Currency Software Trading Buffett went into their insurance portfolio to a great degree, though he never mentioned the company's investigations by New York attorney general Eliot Spitzer.
Moreover, most banks take various commissions beyond that, Forex do not charge on trading or deposits or profit withdrawals.
Currency Future Trading Berkshire's insurance holdings are a primary focus, controlling GEICO, General Re, B-H Reinsurance and other primary insurance companies that together delivered $1.551 billion in underwriting profits.
Currency Fx Trading For the year, Berkshire Hathaway's profits fell 10 percent, reporting $7.31 billion. So its fourth quarter results added to its annual return substantially. But in book value the company under performed the S&P for the year, which is one of only six years that has happened since Buffett took control of the company in 1965.AdvertisementBerkshire Hathaway grew in book value (assets minus liabilities) in 2004 by 10.5 percent. Buffett himself had commented on not beating the S&P that year in his annual letter to the shareholders and stated that Berkshire had grown in book value by $8.2 billion in 2004. Though he also pointed out out that cumulative annualized growth in book value over the last 40 years has been 21.9%, which he called "intrinsic value" saying that was more important than Berkshire's actual annual results.
Currency Exchange Foreign Only Buffett could get away with such a colorful dodge. Though a $10,000 investment in Berkshire Hathaway in 1965 would be worth over $50 million today, which defends Buffett's believe in intrinsic value over book.AXcess News will be reporting on any new market trends related to this story. Members should watch their in-box for late breaking business news. If you're not a member, consider joining now.
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