mo4ch:>‘Nothing attractive’: Warren Buffett’s Berkshire sells ALL stakes in US airlines, reports $50bn Q1 loss amid Covid-19 shutdown | Mo4ch News
With Berkshire Hathaway Inc reporting a record quarterly loss of nearly $50bn amid an abysmal economic fallout from the Covid-19 pandemic, Warren Buffett remains optimistic that in the long run “nothing can stop America.”Speaking at an annual meeting in Omaha, Nebraska, which for the first time was live streamed and held without shareholders, the 89-year-old billionaire tried to reassure them by recalling the hardships of the past that the US successfully survived through and thrived.The famously bullish Buffett, however, expressed doubt that the markets have hit bottom yet, admitting “this is a very good time to borrow money,” but not lend or invest. Berkshire Hathaway revealed that its cash pile has grown to $137 billion in the first quarter, reflecting this challenge of finding anything good to invest in, and reported a record $49.75 billion net loss, due to huge unrealized losses on stock holdings amid the market meltdown.We haven’t done anything because we don’t see anything that…