Profits at Warren Buffett's Berkshire Hathaway drop after Kraft Heinz write-down
Profits at Warren Buffett's Berkshire Hathaway drop after Kraft Heinz write-down
Berkshire Hathaway’s earnings can swing wildly from quarter to quarter because it has to record the current value of its massive investment portfolio.
Read the full article on CBS Money
Truth Analysis
Analysis Summary:
The article is mostly accurate, focusing on Berkshire Hathaway's earnings drop due to a Kraft Heinz write-down. There's a slight negative slant due to the focus on losses. The core claim about the earnings impact and the Kraft Heinz write-down is well-supported by multiple sources.
Detailed Analysis:
- Claim: Berkshire Hathaway's earnings can swing wildly from quarter to quarter because it has to record the current value of its massive investment portfolio.
- Verification Source #1: Implied support: Reports a drop in profit, suggesting earnings fluctuate.
- Verification Source #2: Implied support: Mentions a writedown affecting earnings.
- Verification Source #3: Implied support: Reports a write-down impacting earnings.
- Assessment: Supported
- Claim: Profits at Warren Buffett's Berkshire Hathaway drop after Kraft Heinz write-down
- Verification Source #1: Supports: Reports less than half as much profit due to a $3.76 billion writedown on Kraft Heinz.
- Verification Source #2: Supports: Berkshire Hathaway took a $3.76 billion writedown on its stake in Kraft Heinz.
- Verification Source #3: Supports: Berkshire Hathaway reported a write-down related to Kraft Heinz.
- Verification Source #4: Supports: Berkshire took a write-down of its equity investment in Kraft Heinz.
- Assessment: Supported
Supporting Evidence/Contradictions:
- Source 1: "Warren Buffett's company reported less than half as much profit in the second quarter as it took a $3.76 billion writedown on the value of Kraft Heinz"
- Source 2: "Warren Buffett's Berkshire Hathaway on Saturday took a $3.76 billion writedown on its stake in Kraft Heinz"
- Source 3: "Berkshire Hathaway...reported that it had...Kraft Heinz write-down"
- Source 4: "Berkshire took a write-down of its equity investment in Kraft Heinz."