|Last Price$87.80||Day Change (%)0.43%|
|Open Price$87.80||Day Change ($)0.38|
|Day Range87.80–87.80||52-Week Range61.42–87.80|
As of Fri 08/26/2016 | USD
Berkshire's non-insurance operations continue to be an added source of stability while reinsurance operations continue to struggle.
Quarterly results were an improvement on prior-year earnings, though book value per share came in lower than we expected.
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.
Alternative methods have some use, but we think discounted cash flow is the most fundamentally sound way to value the conglomerate, as we discuss in the final installment of our 5-part series.
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.