WARREN BUFFETT: The new accounting rule will produce ‘wild and capricious swings in our bottom line’ (BRK.B)

Berkshire Hathaway CEO Warren Buffett released his annual letter on Saturday. Buffett said a new Generally Accepted Accounting Principles (GAAP) rule has induced “wild and capricious swings” for the company’s profits, and that the swings will continue.  The letter comes one day after one of Berkshire’s holdings, food manufacturer Kraft Heinz, plunged 27% after reporting quarterly earnings

Warren Buffett released his annual letter on Saturday, one day after shares of one of its largest holdings,

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