This Man Lost $2 Billion In 2 Days – But He’s Probably...

This Man Lost $2 Billion In 2 Days – But He’s Probably Not Losing Sleep Over It

By The Blaze on October 24, 2014
0
Warren Buffett

Who has two thumbs and lost $2 billion in the past two days?

Warren Buffett.

Buffett’s trouble started on Monday, as IBM announced disappointing earnings and said it was jumping out of the semiconductor business, which promptly led to IBM stock tumbling 7 percent.

Buffett’s Berkshire Hathaway investment house holds 70 million shares of IBM, CNN Money noted, generating a $1.3 billion loss during Monday’s slump.

On Tuesday, Coke, a longtime favorite of Buffett’s, reported meager third-quarter growth and told investors not to expect much future growth as the pop company struggles to sell sugary drinks to a more health-conscious public.

Coke stocks dropped 6 percent following the news Tuesday, socking Buffet with a $1 billion loss.

Of course, for the “Oracle of Omaha,” a $2 billion hit is far from the end of the world.

Business Insider reported that Buffett’s net worth was more than $63 billion in August — and that he was earning $37 million per day, more than Hollywood heavyweight Jennifer Lawrence earns in an entire year.

Earlier this month, Buffett told CNBC that he would keep buying stocks as others sold in the down market.

Read More at The Blaze

NO COMMENTS

Leave a Comment

To leave a comment anonymously, simple write your thoughts in the comments box below and click the ‘post comment’ button.