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I have to wonder why You and Mike would post this story. Mr. Buffett lost the money on paper not in real terms. His holdings did not cause the drop in price for Coke or IBM for that matter. I doubt very much Buffett is bothered by the drop...sounds more like media looking for a story, poking a stick at Buffett.
It is not like Coke has not taken a 10% correction in the past. He started purchasing Coke stock in 2011....this chart shows that he definitely has not lost his shirt because of the latest 10% drop as shown in this chart.
I may have posted the wrong article, I remember reading a BI article on a weak 2015 forecast.
Anyway, Coke is viewed as a strong staple. With their downgrade and also McDonald's recent downgrade, 2015 looking worse and I was already bearish for Q1 15.
this chart shows that the stock price has not even broken a serious resistance....you notice that this chart still considers the stock bullish (upper right summary) though it warns that there is a "high pole Warning" meaning that there exists the possibility of the stock becoming bearish. If I owned the stock I would not get excited unless it fell below $38.50 which should be a good support....I would set a Limit Stop loss there probably.
As can be seen the share price has a history of dips and recoveries.
I smile at stories about the so called faux pas of Warren Buffett. They rarely report that he has made $2Billion on a week of trading....that is not news to the media.