Warren Buffett doesn’t have psychic powers, and his investing strategy isn’t immune to market moves. Berkshire Hathaway’s portfolio of public blue-chip securities had fallen in value by roughly $80 billion in nominal terms by mid March, compared with the $248 billion in value listed for year-end 2019 when Buffett delivered its annual results in February.
A holding in Apple stock that was worth almost $80 billion at the recent market peak had declined by around a quarter, while investments in Bank of America and other financial firms including JPMorgan and Goldman Sachs were down sharply.
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