Wide-moat Berkshire Hathaway saw solid top-line results from each of its main segments, but losses from investments, derivatives, and eliminations sent earnings lower.
Berkshire Hathaway profit declines
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Noninsurance operations continue to be a source of stability, while its insurance business overall may see more meager results during the next couple of years.
Sokol's resignation clouds Berkshire's succession plan, while his Lubrizol trades tarnish to some extent the firm's legacy of strong ethical behavior.
2013 results once again demonstrate the value of Berkshire's diversified portfolio, as solid and consistent performance from the firm's non-insurance operations helped smooth out some of the volatility seen in its insurance businesses.
Morningstar's Gregg Warren, who will be on the analyst panel at this year's meeting, details the questions he hopes Buffett and Munger will address.
Just about every segment at Berkshire was dealing with elevated costs during the first quarter.
Despite high stock valuations and the lack of a marquee buyout recently, Buffett and Munger are willing to be creative to put cash to work.