Warren Buffett and Charlie Munger say Coca-Cola getting into cannabis would ruin the company's 'wholesome image'

markets.businessinsider.com | 5/3/2019 | Staff
max1max1 (Posted by) Level 4


Warren Buffett and his right-hand man, Charlie Munger, advised Coca-Cola not to enter the cannabis business.

Buffett's Berkshire Hathaway is the largest investor in the soft-drink maker, owning a $19.5 billion stake.

Coca-Cola - Year - Talks - Cannabis - Producer

Coca-Cola earlier this year held talks with the cannabis producer Aurora Cannabis about teaming up to make CBD-infused beverages. The talks ultimately failed.

Watch Coca-Cola trade live.

Warren - Buffett - Coca-Cola

Warren Buffett loves Coca-Cola.

So much so that he drinks five cans of the product a day. Additionally, his company, Berkshire Hathaway, is the largest shareholder of the soft-drink giant, owning a nearly 10% stake worth $19.5 billion.

Buffett - Talks - Coca-Cola - Management - Right-hand

So let's just say that when Buffett talks about Coca-Cola, its management likely listens. And they might not like what he and his right-hand man, Charlie Munger, had to say on Friday.

"It would be a mistake for Coca-Cola to get into the marijuana – cannabis business," the duo told Fox Business Network's Liz...
(Excerpt) Read more at: markets.businessinsider.com
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