The holding company famous for its CEO Warren Buffett (Trades, Portfolio), Berkshire Hathaway (BRK.B, Financial) has made a major bet on bank stocks which has hurt them due to the headwinds of a flat yield curve and slow loan growth. In addition, goodwill write-downs on Kraft Heinz cost Berkshire over $3 billion on its 26.7% stake. Still Berkshire is probably the best run property casualty insurance company in the world led by skillful managers like Ajit Jain.
From Jeff Auxier (Trades, Portfolio)'s first-quarter 2019 Auxier Focus Fund shareholder letter.