Spare a thought for Warren Buffett, whose portfolio is not doing him any favors this week.
On Monday Buffett lost nearly $1 billion on his third-largest investment, IBM, after the company posted disappointing earnings.
On Tuesday, Coca-Cola did the same thing, posting third-quarter revenue that fell short of expectations and warning of currency headwinds.
Read MoreBuffett sells 'huge mistake'
Coke is Buffett's second-largest investment and has been one of the stalwarts of his portfolio for decades. (He left Coke's board in 2006 and his
son Howard took a board seat there in 2010).
With 400 million shares, Tuesday's decline of $2.72 cost the Oracle of Omaha $1.09 billion. Shares were on track for their worst day since Oct. 2008.
"I love Coke. I love the management, I love the directors," Buffett said in a CNBC interview in April, while discussing the recent controversy over the company's executive pay plan.
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.
Read MoreBuffett on stocks: Look at them as businesses
He has described buying into the stock as a "huge mistake."
On Monday Buffett lost nearly $1 billion on his third-largest investment, IBM, after the company posted disappointing earnings.
On Tuesday, Coca-Cola did the same thing, posting third-quarter revenue that fell short of expectations and warning of currency headwinds.
Read MoreBuffett sells 'huge mistake'
Coke is Buffett's second-largest investment and has been one of the stalwarts of his portfolio for decades. (He left Coke's board in 2006 and his
son Howard took a board seat there in 2010).
With 400 million shares, Tuesday's decline of $2.72 cost the Oracle of Omaha $1.09 billion. Shares were on track for their worst day since Oct. 2008.
"I love Coke. I love the management, I love the directors," Buffett said in a CNBC interview in April, while discussing the recent controversy over the company's executive pay plan.
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.
Read MoreBuffett on stocks: Look at them as businesses
He has described buying into the stock as a "huge mistake."
Ben Berkowitz
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