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What Happened To Warren Buffet This Year Year Will Break Your Heart…..it’s so painful

What Happen To Warren Buffet This Year Year Will Break Your Heart.....its so painful

What Happened To Warren Buffet This Year Year Will Break Your Heart…..it’s so painful

One of the World’s richest men, Warren Buffet, the Oracle of Omaha, is not in a happy mood presently as it was reported that a $1.14 billion loss at Buffett’s Berkshire Hathaway Inc. in the first quarter, the Omaha, Nebraska-based company said.

According to Bloomberg, that marked the company’s first net loss since 2009.

The loss was caused by new accounting-rule changes, which the Oracle of Omaha had predicted would cause nightmares. The rules require Berkshire to report unrealised gains or losses in equity investments in net income.

The “requirement will produce some truly wild and capricious swings in our GAAP bottom line,” Buffett warned in his annual letter to shareholders released in February. The accounting change “will severely distort Berkshire’s net income figures and very often mislead commentators and investors.”

Buffett has said operating results are a better barometer of company performance, in part because Berkshire’s more than $170 billion stock portfolio can fluctuate from quarter to quarter.

Operating profit, which doesn’t include those changes, jumped 49 percent to $5.29 billion during the first quarter as insurance underwriting swung to a profit after a difficult 2017.

A 16 percent jump in revenue at auto insurer Geico helped the company turn an underwriting profit, according to a regulatory filing. Geico was helped by rate increases that pushed premiums higher. The railroad business also posted a gain in profit due to increased revenues per car as fuel prices rose.

Berkshire’s cash pile fell to $109 billion at the end of March from the record $116 billion at year-end, the first decline in two years.

Buffett has said that deploying that cash into new, large acquisitions is key to increasing earnings over time. The first quarter’s drop was driven in part by spending more than $12 billion on more Apple Inc. shares.

The company reported the value of Apple its stake at $40.7 billion as of March 31, a jump from $28.2 billion at the end of 2017. Buffett said in a CNBC interview that aired Friday that his company bought an additional 75 million shares of the technology company in the first quarter.

Berkshire said the fair value of its investment in Kraft Heinz Co. dropped by more than $5 billion to $20.3 billion in the quarter, as shares slipped almost 20 percent.

Berkshire shareholders gathered in Omaha for the company’s annual meeting Saturday, where Buffett and his business partner Charles Munger discussed everything from the economy to investing tips and even the pair’s wagers on certain companies.

What Happen To Warren Buffet This Year Year Will Break Your Heart…..its so painful

 

Secrets You Never Knew About Warren Buffet’s Background.

 

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Politics

JUST IN: Buhari opens Ministers’ performance retreat amid ‘sack’ speculations

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President Muhammadu Buhari opened a two-day mid-term ministerial performance review retreat in Abuja on Monday, amid reports that more of his ministers will be sacked for poor performance.

The yearly retreat, which is attended by Ministers, Permanent Secretaries, and other top government officials, is held to evaluate the administration’s top functionaries’ performance.

President Buhari announced the dismissal of two of his ministers during the weekly Federal Executive Council (FEC) meeting on September 1.
They were the Ministers of Power, Engr. Saleh Mamman, and Agriculture and Rural Development, Alhaji Sabo Nanono, at the time, informing others that the action would be ongoing.

According to presidency sources, the President may be waiting for the results of the continuing review process before taking action, which may include removing more of his cabinet members whose performance and conduct do not satisfy the administration’s standards.

President Buhari said he would stay for the entire two-day performance review retreat at…

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Culture and traditional lifestyle Travel

5 Common Myths That Are Untrue About Edo People

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5 Common Myths That Are Untrue About Edo People

Edo state, affectionately known as the “heartbeat of the nation,” has a slew of prejudices that need to be debunked.

5 Common Myths That Are Untrue About Edo People
5 Common Myths That Are Untrue About Edo People

Here are 5 common myths that are untrue about the Edo people.

Edo state, with an estimated population of 8 million people, is a state rich in culture, history, and tradition.

Edo state is home to the Oba of Benin and has produced numerous notable Nigerians, both dead and alive. There are, however, a lot of misconceptions regarding the state.

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There are a plethora of activities…

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Lifestyle Travel

6 tips for survival in the city of Lagos

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6 tips for survival in the city of Lagos

6 tips for survival in the city of Lagos
6 tips for survival in the city of Lagos

Surviving in Lagos is a challenging task. It is a place of great appeal to both people wanting to relocate to Lagos and those who already live and work there.

Anyone who succeeds in Lagos is widely regarded to be successful everywhere in the world. Lagos is the country’s most populous metropolis and a major commercial hub.

In a city like Lagos, knowing how to climb through and make life meaningful is essential. Without further ado, here are 6 tips for survival in the city of Lagos, these are key strategies for surviving Lagos’s madness:

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6. Socialise and meet people with caution:

You have to be very careful…

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Pets and animals Travel

6 interesting places you must visit in Jos

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6 interesting places you must visit in Jos

Jos, the city located on the Jos Plateau, during British colonial rule, Jos was very important to the mining industry and is presently the trading hub of the state and country at large as commercial activities are on the increase steady.

The beautiful city has cool weather like that of Europe, with the presence of mountains and hills making it possible. Sometimes ice-hailstones fall during the rainy season because of the cooler temperatures at high altitudes.

These cooler temperatures made Jos the favourite holiday location for tourists from the past colonial times to the present day tourists and visitors of the city.

So in case, you’re thinking of visiting the City of Jos anytime soon or in the future, Dailyfamily provides 6 interesting places you must visit in Jos.

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Education Radom news Travel

Top 5 Markets in Lagos – you need to visit them

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Top 5 Markets in Lagos – you need to visit them

 

Top 5 Markets in Lagos - you need to visit them
Top 5 Markets in Lagos – you need to visit them

Any society that is meant for humans to habitat, must have a marketplace as a crucial social amenity. The marketplace is far from just a place to buy and sell but also a place that attracts tourists and social gathering of various kinds of people for several reasons.

We have a lot of unique markets in Lagos known for unique reasons like the Computer Village in Ikeja is known for ICT appliances and the Oshodi market is known for foodstuff and clothing.

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Here are the top 5 markets in the city of Lagos:

1. Balogun…

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Business

Insecurity: CBN Governor, Godwin Emefiele releases shocking statement on Nigeria’s Economy

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Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele has pointed out that the country’s current economy cannot grow.

Emefiele disclosed that the nation’s economy cannot grow due to the current level of insecurity.

The CBN boss spoke at the end of a two-day monetary policy committee meeting in Abuja on Tuesday.

According to Emefiele: “If you want an economy to grow, the level of insecurity must be low because if there is a high level of insecurity like what we see today, the economy will suffer.”

Read Also: Buhari reveals why he paid $469m for Tucano aircraft ahead of National Assembly approval

He also disclosed that Nigeria will receive 12 fighter jets from the United States, US, to fight insecurity in July.

The CBN boss said the arrival of the jets followed a pact signed between the…

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Business

See 5 Small Businesses You Can Start With ₦10,000 In Nigeria

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Despite the economic downturn, Nigerians are known to be very industrious people wherever they are found as they are very proud of this unique trait. With so many ideas floating around the table, you would think that everyone is an entrepreneur but the sad reality is there is little or no capital to make these ideas become real.

What many may not know is that there are some businesses you can start with as little as ten thousand naira or less. Let’s take a look at a few of these lucrative businesses you could start with such a small amount

1.    Fast Food Business

This is an evergreen business for every season. It’s always in demand.

People need…

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