Think You’re Having A Bad Week? Warren Buffett Lost $2 Billion In 48 Hours
99.99999999 percent of the world will never have this problem, but I can imagine it is a shitty problem to have.
Warren Buffett, one of America’s wealthiest investors, is having a really terrible go of it this week. Earning reports released by IBM Monday cost the Nebraska-based billionaire $1 billion. On Tuesday, Coca-Cola announced its third quarter revenue, and bam–just like that, Buffett was down another billion.
In fact, since I’ve been at work today, Buffett has lost another $500 million and I haven’t even finished my third bacon, egg, and cheese breakfast taco. That sucks. Luckily for Buffett, he has a lot of other billions to supplement the ones that disappeared this week.
I don’t think Warren is going to have to resort to ramen noodles or Kraft macaroni and cheese, but he should probably eat a couple meals at home this week.
It’s been a tough couple of weeks for Buffett.
From CNBC:
The losses in IBM and Coke add to a recent rough patch for Buffett, who slashed Berkshire Hathaway’s stake in British grocer Tesco earlier this month. He has described buying into the stock as a “huge mistake.”
It hasn’t been all bad news for Buffett this week. His favorite bank investment, Wells Fargo, is up $816 million since Monday.
Meanwhile, the $300 I attempted to invest into Fleshlight should start paying dividends soon. I just know it.
[via CNBC]
Image via @CNNMoney
I think the article was quoting him as saying that buying British grocer Tesco was a huge mistake, not buying Coke and IBM. And as one of the comments on CNBC stated:
11 years ago at 11:25 am“Buffet is not a day trader. IBM is still up 34% over the past 5 years and KO is still up 50% over those same 5 years. He buys and holds in most cases.
He doesn’t take daily losses on stocks only his valuation – so he hasn’t lost anything.”
blockquoted from the original piece for clarity.
11 years ago at 11:30 amI heard you prefer rubber fist over the fleshlight.
11 years ago at 11:45 amYou lost all validity when you said you used NBC
11 years ago at 12:03 pmHis reporting is still better than HelmetStickers’
11 years ago at 12:43 pmBuying Coke is never a mistake. Ever.
11 years ago at 7:13 pmThe flesh light has way too much hype. Show me the flesh butthole!
11 years ago at 11:29 amThey have that
11 years ago at 12:45 pmYeah, i’ve done my research, and found the flesh butthole a while ago! Your game is slacking man.
11 years ago at 11:54 pmThis is a stupid article, Buffet hasn’t lost anything yet. His portfolio may be down but he hasn’t sold his position so he isn’t any poorer than he was before. Unless he is going to sell, this isn’t going to affect his bank account.
11 years ago at 11:42 amYes it doesn’t affect his bank account, but I think what they’re getting at is that his total net worth is (for now) down.
11 years ago at 1:04 pmPocket change
11 years ago at 11:49 am
11 years ago at 11:49 am#BallJohansenSteve
11 years ago at 12:16 amHelmet Stickers has no idea how the stock market works…or how to write articles…or satisfy a women…or read
11 years ago at 12:01 pmI mean disappointing women sexually is pretty frat
11 years ago at 12:14 amMeh. Brother Buffett will be fine.
11 years ago at 12:26 pmI bet he treats himself to a nice steak dinner and a new Chrysler after that small dent in his portfolio.
11 years ago at 12:37 pmThe only thing I’ve ever lost 2 billion of in 48 hours is sperm.
11 years ago at 1:17 pmTesticles.
11 years ago at 3:32 pm