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Short seller Doug Kass, as seen on TheStreet.com |
(For more on why Kass is negative on Berkshire, including a video clip, see the recent WBW post Short Seller Tells CNBC Why Warren Buffett Has Met His "Watergate.")
In a blog post on TheStreet.com today, Kass points to the "poor short-term and long-term charts of Berkshire's four largest equity investments."
They are:
- Coca-Cola [KO
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- Kraft [KFT
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- American Express [AXP
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Kass argues that the four Buffett biggies "continue to suffer" even as Berkshire shares advanced over the past two weeks. (Berkshire closed at a 12-week high last Friday, following an 11 percent rally over ten sessions.)
Kass' Four Buffett "Bombs" |
| May 20 Close | June 3 Close | Pct. Change | |
| Coca-Cola | 57.09 | 56.40 | -1.2% |
| Wells Fargo | 28.05 | 26.78 | -4.5% |
| Kraft Foods | 32.56 | 32.05 | -1.6% |
| American Express | 47.31 | 44.31 | -6.3% |
| Berkshire Hathaway | 123,300.00 | 134,000.00 | +8.7% |
And Kass is not just talking about the short-term. He writes, "Holding these four stocks 'forever' has not been value-additive to Berkshire over the last decade" although it has been a "particular drain" more recently.
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Current Berkshire price: [US;BRK.A
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See Warren Buffett Watch on CNBC's The Call, most weekday mornings at 11:50a ET
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Data is a real-time snapshot *Data is delayed at least 15 minutes