Tags: berkshire hathaway | warren buffett

Analyst Downgrades Berkshire Hathaway to Sell

Friday, 09 Jul 2010 08:57 AM

An analyst is telling investors to sell shares of Warren Buffett's Berkshire Hathaway because the economy may weaken over the rest of the year and hurt demand for its businesses that rely on consumer spending.

Stifel Nicolaus analyst Meyer Shields made the recommendation in a research note Thursday.

Berkshire owns clothing, furniture, jewelry and building materials operations. But its insurance businesses generated more than half the company's $8.1 billion profit last year.

Shields also says the value of Berkshire's derivative contracts, which are tied to several stock market indexes, could fall if the economy falters.

Berkshire Hathaway didn't immediately return a call for comment.

Its Class B shares slipped in midday trading.

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An analyst is telling investors to sell shares of Warren Buffett's Berkshire Hathaway because the economy may weaken over the rest of the year and hurtdemand for its businesses that rely on consumer spending.Stifel Nicolaus analyst Meyer Shields made the recommendation in a...
berkshire hathaway,warren buffett
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2010-57-09
 

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