Think You’re Having A Bad Week? Warren Buffett Lost $2 Billion In 48 Hours

SteveHolt11 years ago

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