Warren Buffet Reveals 8.6% Stake in Kraft Foods
Investment Guru Lukewarm on Company’s Profit Outlook, but Loves ‘Cheesiest’ Mac & Cheese
Noted value investor Warren Buffet today revealed he controls 8.6% of the stock in Kraft Foods. The Oracle of Omaha is bucking trends in the food industry by grabbing a larger-than-average portion of stock at a time when many portfolio managers are cutting back on company stakes and looking to add more vegetables to their investments.
Buffet defended taking an extra helping of stock, noting he works out on a regular basis by exercising stock options. He maintained his portfolio wasn’t too fat, just big-boned.
In an related story, officials at Berkshire Hathaway headquarters unveiled a new menu for the company’s cafeteria which features Velveeta grilled cheese sandwiches, seven flavors of Kool-Aid and Oreo cookie snack-packs.
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“Wait a minute… this isn’t Cool Whip®!”
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The company defended the decision to mimic a 4th-grade lunch room saying they hoped it would inspire a whole new generation of kids to develop an interest in Benjamin Graham’s theories on value investing.
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