Buffett's Berkshire Hathaway suffers first loss since 2001

Berkshire saw a $1.53bn loss in the first three months of 2009, well down on a $940m profit the previous year. 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