Coronavirus: billionaire Warren Buffet loses money but keeps morale

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Fourth world fortune, the American Warren Buffet announced that his holding company, Berkshire Hathaway, had lost 50 billion dollars in the first quarter due to the fall of the financial markets consecutive to the pandemic of Covid-19.

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You have to be called Warren Buffet , nicknamed the “Wall Street guru”, or even “the oracle of Ohama”, his hometown, to lose 50 billion dollars (around 45 billion euros) in one quarter and maintain a moral of steel. Because the equity portfolio of its holding company Berkshire Hathaway melted by 50 billion dollars in the first quarter, as the financial markets collapsed because of the crisis linked to the epidemic of coronavirus.

However, these losses are largely fictitious since the American billionaire retains most of his shares. He was content - and this is a worrying signal for the sector - to sell his stakes in the four largest airlines in the country where he had invested just over $ 7 billion (6.3 billion euros ).

America to recover from crisis, billionaire says

Everything Warren Buffet says or does is scrutinized by investors and banks. In 2008, its positions had calmed the markets. In the midst of the financial crisis, he rushed into good deals, calling on his fellow citizens to follow his example.

Today Warren Buffet is optimistic. He believes that America will recover from this crisis , as it has recovered, he said from the Great Depression, the crisis of 1929. "  American magic will prevail again,  " predicts the top financial oracle. his 89 years.

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• Coronavirus
• Economic crisis
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• United States

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