Buffett has stayed relatively quiet amid the turmoil this time around
Even as market watchers await Warren Buffett’s splashy move to seize on fallout from the current crisis, his Berkshire Hathaway Inc. hasn’t been spared by the pandemic.
Coronavirus-related shutdowns across the U.S. have hit Berkshire units from See’s Candies and a shoemaker to industrial behemoth Precision Castparts. That could leave a few scars on the conglomerate that gives the billionaire investor his ammo and has been pumping out more than $20 billion in annual profit in recent year .
Buffett’s business partner, Charlie Munger, put it bluntly. “We’ve got a few businesses, small ones, we won’t reopen when this is over,” he told the Wall Street Journal, without naming the units.
As Berkshire’s chairman and chief executive officer, Buffett has spent more than five decades crafting a behemoth with businesses in industries including insurance, energy and retail. That diversity helped the company weather the credit crisis in 2008, allowing its iconic leader to invest vast