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Back in 2015, Warren Buffett said he and his partners at private equity firm 3G Capital still “have our work cut out for us for a couple of years” vis-à-vis Kraft Heinz, the food giant they created two years after buying Heinz in 2013. That still appears to be the case.

Kraft Heinz Co. on Thursday wrote down the value of its Kraft and Oscar Mayer brands by $15.4 billion, disclosed an investigation by federal securities regulators and slashed its dividend, sending its stock down more than 20% in after-hours trading....

“We were overly optimistic on delivering savings that did not materialize,” Chief Executive Bernardo Hees said on a conference call with investors.

On the bright side, that’s $4.3 billion Buffett no longer has to worry about how to spend.

Kraft Heinz Divulges SEC Investigation, Swings to Loss [WSJ]
Warren Buffett’s Berkshire Hathaway loses $4.3 billion in single day on Kraft Heinz plunge [CNBC]
Warren Buffett Can’t Find Anything Big to Buy [WSJ]


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Warren Buffett: Mistakes Were Made

You know, in case you were under a different impression after a $15 billion write-down and 27.5% stock swoon.

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Kraft Writes Off Another 1% Of Warren Buffett’s Cash Pile

Not literally, of course, but it’s a pleasing mathematical coincidence to all but Berkshire shareholders.

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Flashy Global Law Firm Accused Of Bilking Trusting Nebraska Senior Citizen

Warren Buffett’s got a bone to pick with Jones Day.

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Warren Buffett Finds Something Worth Buying

He didn’t have to look that far, either.

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Buffett Mentee Has Learned To Go Small, But Has She Learned To Write A Randy Metaphor?

Tracy Britt Cool will no longer be workshopping Uncle Warren’s blue material.

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Old Man’s Still Got It

Warren Buffett makes his coronavirus move.

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Woman Says ‘Yes’ To Warren Buffett

Which is good, because if Lisa Bridge said “no” or “maybe,” things might not have ended well.

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Cryptocurrency Entrepreneur Somehow Still Has $4.5 Million

And he’s going to spend it to waste Warren Buffett’s time.