Warren Buffett Predicts Earnings Decline at Berkshire Units
- Forecast comes after operating earnings improve on insurance
- ‘Incredible period’ for economy is coming to an end: Buffett
This article is for subscribers only.
Warren Buffett, whose economic insights are craved for Berkshire Hathaway Inc.’s deep ties to the American economy, had a gloomy prediction for his own businesses: the good times may be over.
The billionaire investor expects earnings at the majority of Berkshire’s operations to fall this year as a long-predicted downturn slows economic activity. He made his comments at the conglomerate’s annual general meeting in Omaha, Nebraska, after Berkshire posted an almost 13% gain in operating earnings to $8.07 billion for the first quarter.