The Pershing Square chief and “Baby Buffett” is celebrating the Oracle’s half-century at Berkshire’s (NYSE: BRK-B) helm with the observation: “We own a big chunk of an immoral company. Warren does, too!”
“Coca-Cola (NASD: COKE) has probably done more to create obesity and diabetes on a global basis than any other company in the world,” Mr. Ackman said. The company, he said, has “displaced the water that children and adults consume with sugar water….”
“I have a problem with Berkshire’s ownership of Coke,” he said, in response to a question about whether he’d found himself on the opposite side of a trade from Berkshire. “Coca-Cola is a company that I wouldn’t own.”
Presumably, because of the sugar, and not because it’s only lost 0.43% this year.
Ackman v. Berkshire: Whose Holdings Are More Immoral [WSJ MoneyBeat blog]