Tekedia Forum

Forum Navigation
Please or Register to create posts and topics.

The Warren Buffett's $80 Billion Profit

This is simply astonishing: "The most profitable U.S. company by far is the Berkshire Hathaway, the insurance conglomerate run by billionaire Warren Buffett. At over $80 billion in 2019 profits, Berkshire Hathaway is more profitable than any company worldwide except for oil giant Saudi Aramco" which logs close to $90 billion as profit.

JM Morgan Chase pulled in $12.1 billion in Q4 2020, and for a bank not in China, that is a lot of money on fees, interests, etc. I remind you of that poem you read in secondary school -The Rime of the Ancient Mariner by Samuel Taylor Coleridge - with that line “Water, water, every where,. Nor any drop to drink”, you will ask “lots of money everywhere, yet people are dying of problems money can solve!”

JPMorgan Chase closed out 2020 with a record-breaking fourth-quarter profit of $12.1 billion as big banks got a boost from releasing loan loss provisions. While the nation’s largest bank beat expectations, Citigroup and Wells Fargo’s results were more mixed. Citigroup said profit fell to $4.63 billion while Wells Fargo saw profit rise to $2.99 billion in the final quarter of the year. Despite a strong showing from JPMorgan, CEO Jamie Dimon says the bank is still bracing for “significant near-term economic uncertainty."

 

Uploaded files:

Without noise or fanfare, Berkshire Hathaway commands more profits than the ones constantly in the news, not surprising anyway, because humans generally value future more than present.

Telling someone that he/she will be hungry or poor today won't bother him/her much, but by replacing the today with tomorrow, magically it becomes worrisome...

The big guys at Berkshire Hathaway are all in their 90s, but they assembled and built a team that would outlive them all, and that's very instructive.