US billionaire Warren Buffett's investment vehicle Berkshire Hathaway has reported its first quarterly loss since 2001.
It largely attributes the poor performance to the $1.9bn write down of its stake in oil firm ConocoPhillips and a $986m Q1 loss in the derivatives markets.
Berkshire, which has major stakes in Coca-Cola and Wells Fargo, saw first quarter revenues drop 9.5% to $22.8bn.Investment Week
Underperformance still present – for now
Regtech or fintech
15% increase in number of claims paid
Open architecture philosophy
Inflation above 2% for first this this year