Warren Buffet can be happy – he is one of the biggest winners this year.
(Photo: dpa)
Frankfurt Warren Buffett is one of the big winners this year. Its Berkshire Hathaway conglomerate is ideally positioned for periods of high inflation and energy demand.
This is also reflected in the share price. The Class A stock rose for four straight days despite the market turmoil, closing above $500,000 for the first time on Wednesday.
Berkshire stock is up 11 percent this year and is trading at $504,400. The broader S&P 500, with which the 91-year-old star investor likes to compare himself, is down a good nine percent.
The Omaha, Nebraska-based company couldn’t keep up with the tech companies that were particularly popular during the pandemic and even in the years before. But in times of high inflation and rising interest rates, Berkshire is ideally positioned.
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