• English   Deutsch   
  •  GMT      
  • LONDON      
  • FRANKFURT      
  • NEW YORK      
  • SAO PAULO      
  • TOKYO      
  • SYDNEY      
Hedge Fund Database
Morgan Hedge Fund Database
USERNAME

PASSWORD

FEATURED SERVICE PROVIDER

  Hedge Fund Search
Name, ISIN, Ticker:
  

Hedge Funds Search Detailed Search
  Hedge Fund Directories
Listed Hedge Funds:9,944
HF Professionals:16,366
Service Provider:515
Berkshire loses 1.6bn $ on derivatives
 
  HEDGEweb - FRI, MAY 02 2008
News Warren Buffett??s Berkshire Hathaway was hit by a $1.6bn first-quarter non-cash loss on derivatives contracts.

The investment loss, announced on the eve of Berkshire??s annual meeting, caused a 64 per cent drop in first quarter profits to $940m, from $2.6bn in the same period last year.

The losses were concentrated in two areas. The company recorded a $1.2bn unrealised loss on put contracts on the S&P 500 index and three other indexes. Under these contracts, Berkshire will have to pay investors between 2019 and 2028 if indexes are below a pre-determined level. The recent decline in world stock markets forced it to take an accounting loss on the contracts

 
 
© Morgan Hedge™ · HEDGEweb™
Morgan Hedge and HEDGEweb are Trademarks of morganhedge.com, TAA LLC and VIImedia S.A.