As Berkshire Hathaway finishes out Q2 2019, its top 10 performing stocks were dominated by fintech companies that are making innovations in digital payments. Warren Buffett may have bitcoin and crypto to thank.
They may be what’s keeping Berkshire buoyant despite the $3 billion Kraft Heinz writedown in Q1. That resulted in a $4.3 billion stock crash. Worse, Berkshire took heavy damage in May losses from the global equities rout on trade-war and recession fears.
Berkshire Hathaway, the largest stockholder in Kraft Heinz took a spill in February after the food and beverage company accounting scandal broke. | Source: Yahoo Finance
Berkshire shares will, however, still finish out the first half of 2019 with a profit. They’re riding a wave of investor interest in financial technology innovation. All signs point to a bitcoin ripple effect.
Bitcoin has been the best performing asset of the last decade, as pointed out by Morgan Creek Digital Partner Anthony Pompliano. Facebook isn’t the only company making a major splash into the space with the upcoming launch of Libra coin. Investors fearing equities doldrums ahead are piling their cash into companies that promise big returns on fintech innovations.
REMINDER: Bitcoin is the best performing asset over the last decade.
— Pomp ? (@APompliano) June 28, 2019
Warren Buffett’s Top 3 Stock Market Performers
StoneCo Ltd. (STNE) stock market price chart for Q1 – Q2 2019. | Yahoo Finance
StoneCo Ltd. – The best performer in Warren Buffett’s portfolio for 2019 thus far was an odd pick for the Oracle of Omaha. Applying his value investing philosophy, Berkshire usually goes for large-cap stocks in older,