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Even Buffett Can Make a Mistake

By: Rick Ackerman, Rick's Picks

 -- Published: Tuesday, 26 February 2019 | Print  | Disqus 

The recent plunge in Heinz-Kraft shares reminds us that even Warren Buffett can make a mistake. A couple of years ago, it might have seemed as though the Sage’s portfolio was impervious to downturns, given its heavy focus on the basics: food chain, railroads and insurance companies. As it happens, his bet on such time-tested brands as Oscar Mayer, Jell-o, Kraft Singles, Kool Whip and Cheez-Whiz has tanked, a victim of changing tastes. Even KHC’s venerable Maxwell House label has fallen on hard times as consumers weaned on Starbucks have developed a serious jones for something more exotic than a cup of joe.

Even-Buffett-makes-mistakes.jpg (1274×859)

No one is crying for Buffett, though, and Buffett himself seems unconcerned. If you owned auto-insurance giant Geico and Burlington Northern Santa Fe railway, which can carry a ton of freight 500 miles on a single gallon of diesel fuel, would you be worried? 

If you don’t subscribe but want a peak behind the headlines, click here for a free two-week trial to Rick’s Picks. It will give you instant access to all features and services, including a 24/7 chat room where great traders from around the world share ideas that can help you profit.


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 -- Published: Tuesday, 26 February 2019 | E-Mail  | Print  | Source: GoldSeek.com

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