Warren Buffet has lost $2 billion in just 2 days and this is just Tuesday the second day of the week. Warren Buffet is known to be a very cautious investor who invests long term and does not speculate in the market. He tries to buy the business instead of a stock. So how did it happen that Warren Buffet lost so much in just 2 days. His holding company Berkshire Hathaway holds large chunks of Coke and IBM stocks which have taken drubbing from the market.
Coke is one of Buffett’s largest investments. He holds 400 million shares and his son Howard sits on the beverage company’s board. And he likes the products too. Buffett is often seen enjoying Cherry Coke.
The pain started on Monday for Buffett. IBM (IBM, Tech30), another top holding, lost $1.3 billion as the stock plunged. The company is looking for a reboot after reporting disappointing earnings and shedding its chip unit at a major loss.