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Berkshire Hathaway’s profit slump hit by market volatility

Berkshire Hathaway earnings fell in the second quarter as market turmoil weighed on the company’s huge stock portfolio.

The Omaha, Neb.-based company, which owns businesses ranging from insurer Geico and railroad BNSF Railway to sportswear maker Brooks Running, reported a loss of $43.8 billion, or $29,754 dollars the equivalent of a Class A share. That compares with earnings of $28.1 billion, or $18,488 per share, in the prior year period.

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