Berkshire Hathaway Q1 loss $1.1 billion
Berkshire Hathaway's insurance underwriting business swung back into the green and railroads, utility and other businesses posted gains.
Because of accounting rule changes that apply to its $170 billion stock portfolio, however, Berkshire Hathaway recorded a first quarter loss of $1.1 billion compared to net income of $4 billion in last year's first quarter.
Berkshire Hathaway marked down the value of those investments nearly $6.3 billion. ■