Berkshire Hathaway now owns so much Occidental Petroleum that it includes OXY's earnings in its own.
When you own more than 20% of a company, you use completely different accounting rules than someone with a small position.
Past the 20% threshold, you report the company's earnings as part of your own earnings. Below it, your "earnings" come from market prices.
In the case of oil stocks, these rules are beneficial, because their stock prices are more volatile than their earnings.
Since my last article on the stock, BRK.B has risen 10.16%. In this article, I explain why I'm still bullish, though less than I was before.
seekingalpha.com/article/...ay-stock-occidental-real-catalyst