Pershing Square founder Bill Ackman shared a memory of a dinner he had with Warren Buffett years ago while appearing on the Equity Mates Investing podcast. According to Ackman, the 96-year-old famous investor asked for cola instead of water or sparkling water at dinner, and gave a striking answer when asked why he didn't drink water.
Ackman said that while he was hosting Buffett at his home, he had prepared cherry cola, the investor's favorite drink, before the meal. Stating that he offered regular water or sparkling water during the meal, Ackman expressed that Buffett rejected both options and asked for cola.
COLA PREFERENCE REFLECTED IN HIS INVESTMENTS
Buffett's fondness for cola has been known for a long time. It is stated that the famous investor drinks about five cans of cola a day, and in 2015, he said that he met 25 percent of his daily calorie intake from this drink. During the same period, Buffett jokingly remarked that his body was one-quarter Coca-Cola.
This habit was not limited to personal preference. Berkshire Hathaway, managed by Buffett, completed its accumulation of shares in Coca-Cola in the 1990s, corresponding to a stake of approximately 9 percent. It was reported that the value of the investment, which cost approximately 1.3 billion dollars, reached 28 billion dollars at the end of December last year.
In a statement to Berkshire Hathaway shareholders in 1986, Buffett announced that he had stopped drinking Pepsi, which he had preferred for many years, and started drinking Cherry Coke. Among the investor's dietary habits, McDonald's breakfast, hot dogs, french fries, popcorn, cookies, candy, and ice cream also stand out.
The fact that Berkshire Hathaway's portfolio includes candy manufacturer See's Candies and ice cream chain Dairy Queen is also frequently cited as an example of the relationship between Buffett's palate and his investments. However, whether Buffett has truly not drunk any water for decades has not been verified by independent sources.
News Source: 12punto
