Warren Buffett’s Berkshire reins in stock purchases and books $43.8bn loss

Warren Buffett’s Berkshire Hathaway dramatically slowed new investment in the second quarter after setting a blistering pace at the start of the year, as the US stock market sell-off pushed the insurance-to-railroad conglomerate to a $43.8bn loss.

Berkshire said on Saturday that the drop in global financial markets had weighed heavily on its stock portfolio which fell in value to $328bn, from $391bn at the end of March. The $53bn booked loss in the three months to June far outweighed…

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