Buffett lost $2 billion, but there's good news
The good news: That's about the extent of his U.S. losses so far this year.
Buffett's Berkshire Hathaway investment house has lost big on Coca-Cola and IBM , each of which recently reported results that disappointed investors. IBM has dropped about 14% this year, and Coca-Cola is off about 1%.
Among the company's worst bets this year are Chicago Bridge & Iron , which has shed 38% under pressure from a short-seller, and General Motors , which dropped 24% while recalling millions of vehicles. And his third largest investment -- the European grocer Tesco -- has plunged 50% so far this year.
But those losses are cushioned by a portfolio of other investments that have largely done better.
Berkshire has also been shopping, snapping up other television providers like Liberty Global and Charter Communications . Buffett explained the buy-low, sell-high market mantra in an interview this month, saying 'the more stocks go down, the more I like to buy.'
And investors aren't running for the hills, either. Berkshire stock has climbed 3% since Friday morning and has grown by nearly 17% this year.
First Published: October 23, 2014: 6:53 PM ET
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