Warren Buffett Berkshire Hathaway profit falls 40%

Billionaire chairman's derivative bets on equity indexes slide after a retreat in global stocks
Omaha: Warren Buffett's Berkshire Hathaway said second-quarter profit declined 40 per cent as derivative bets on equity indexes by the billionaire chairman slid amid the retreat of global stocks.
Net income fell to $1.97 billion (Dh7.2 billion) or $1,195 a share, from $3.3 billion, or $2,123, in the same period a year earlier, the Omaha, Nebraska-based company said yesterday in a statement.
Via www.gulfnews.com