Buffett’s Berkshire Hathaway lost $4B after Kraft Heinz earnings report

[timosman]

https://nypost.com/2019/02/22/buffet...rnings-report/

February 22, 2019

https://thenypost.files.wordpress.co...en-buffett.jpg

Warren Buffett’s taste for junk food is starting to give him major indigestion.

The folksy billionaire who regularly grabs McDonald’s for breakfast saw his Berkshire Hathaway conglomerate lose more than $4 billion on Friday as its stake in Kraft Heinz got clobbered on a dismal earnings report.

Shares of the snack-food giant — in which Berkshire holds a 26.7 percent stake — plunged more than 27 percent to all-time lows as it took a $15.4 billion write-down on its Kraft and Oscar Mayer brands, slashed its dividend and disclosed that the Securities and Exchange Commission was probing its accounting practices.

The news came less than two weeks after shares of Coca-Cola — where Berkshire holds a 9.4 percent stake — saw their worst single-day drop since the financial crisis as the soda giant warned of a weak sales outlook.

Notorious for his decades-old predilection for anything sugary and salty, Buffett is famously a longtime investor in See’s Candies and Dairy Queen. Berkshire likewise owns a stake in Burger King owner Restaurant Brands, as well as small stake in Oreo-maker Mondelez.

[Zippyjuan]

Berkshire assets are worth about $700 billion so it isn't that bad. Also,

To be sure, Buffett has made a bundle on Kraft. Even including Friday’s heart-stopping plunge, his investment has returned 41 percent including dividends, according to Bloomberg.

[oyarde]

Seems like these things dropping was easily predictable .

[Zippyjuan]

Seems like these things dropping was easily predictable .

Buffet is a buy and hold investor- he doesn't like to sell even if bad news comes up. If he thinks the company can recover, he may even buy more shares in it.

[oyarde]

Buffet is a buy and hold investor- he doesn't like to sell even if bad news comes up. If he thinks the company can recover, he may even buy more shares in it.

I am a buy and hold investor too . I like to buy and hold things though that are trending up or are expected to .

[Krugminator2]

I am a buy and hold investor too . I like to buy and hold things though that are trending up or are expected to .

See how well that works when you own 27% of a company and get back to me.

[oyarde]

See how well that works when you own 27% of a company and get back to me.

Why would I want to own 27 percent of a company selling mac n cheese or soda pop ? Not my style .

[oyarde]

If Trump does not win , Bernie will probably nationalize soda pop so he can give it to who he wants .

[Swordsmyth]

Why would I want to own 27 percent of a company selling mac n cheese or soda pop ? Not my style .

What about the Ketchup?

[oyarde]

What about the Ketchup?

Only thing that really makes that puree tomato taste good is all the sugar in it . Might as well just have a Coke and a cigarette .