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Monday, 20 October 2014

Warren Buffett just lost $1B on this

Warren Buffett does not like to lose money in general, so losing $1 billion before lunch on a Monday morning can not be going down well.

The plunge in IBM shares Monday after its weak earnings results cost the Oracle of Omaha dearly.

The stock fell $15.05 at the open, and Buffett held about 70.2 million shares as of June 30, according to the most recent SEC filings.

That means the sharp decline cost him $1.06 billion—a drop in the Berkshire Hathaway bucket, to be sure, but still noteworthy.

In April, after a prior weak earnings report, Buffett told CNBC he had not "soured" on IBM, that he had bought more stock this year and that he had not sold a share.
The stock was recently the third-largest holding in Buffett's portfolio, trailing only Wells Fargo and Coca-Cola.

7 comments:

  1. How to feel good when you sit on paper losses?

    Quote this article.

    You see Warren Buffet also has paper losses!

    :-)

    ReplyDelete
  2. This goes to show, he is only human.

    Also a lesson for us all, do not be disheartened by our paper losses as even the Gurus having facing the same paper losses problems from time to time.

    ReplyDelete
  3. $1B paper lost for WB? Chicken lah.

    He has $50B cash on hand and ready to deploy when the tie is right. He said he is waiting for the Fat Ptich to swing.

    ReplyDelete
    Replies
    1. Ouh... I mean "when the time is right"

      Delete
  4. i lost touch about WB (very rarely i pay attention on articles about him). All the while i thought WB doesn't like to invest in technological companies since dot com days.

    ReplyDelete
    Replies
    1. Why Warren Buffett Keeps Buying IBM

      http://www.forbes.com/sites/gurufocus/2013/01/08/why-warren-buffett-keeps-buying-ibm/

      Delete
  5. Down $2.5B this week, IBM & Coke add to Buffett's woes

    ReplyDelete

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