Jim Cramer Says Buffett's Portfolio Isn't That Good for this Market

Katherine Ross

Berkshire Hathaway released earnings over the weekend. 

Berkshire Hathaway owns more than 60 companies, including Benjamin Moore, Geico and more.

The market cap of Berkshire Hathaway is valued at over $500 billion.

Berkshire Hathaway reported second-quarter earnings of $26.3 billion, a jump of 87% from a year earlier and a swing from a loss of $50 billion, the company's biggest-ever loss, in the first quarter of 2020.

Berkshire Hathaway's operating earnings in the quarter declined 10% to $5.5 billion but came in higher than most analysts' estimates.

Berkshire Hathaway spent a record $5.1 billion on stock repurchases in the second quarter and may have kept that higher pace going in July, according to Bloomberg.

The company's cash on hand at the end of June was a record $146.6 billion.

Jim Cramer notes that he's hesitant to criticize Warren Buffett, but does believe that his portfolio isn't that great for the ongoing coronavirus pandemic. 

But at the end of the day, Cramer says that he has to praise Buffett. 

Watch the full video above for more.

You can follow Jim Cramer and Katherine Ross on Twitter at @JimCramer and @byKatherineRoss. Read more from Katherine Ross here.

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