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Lost Money On Nigerian Stocks? You’re Not Alone Because Warren Buffet Just Lost $700m

Nairametrics by Nairametrics
July 22, 2015
in Uncategorized
Lost Money On Nigerian Stocks? You’re Not Alone Because Warren Buffet Just Lost $700m
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Value Investors in the Nigerian Stock Exchange have seen the value of their shareholdings Plummet in recent weeks as stocks lost over N600billion since the start of July. For most value investors who take a long term view at investing, this can be a very disheartening experience. Your heart feels a cringe and you sometimes wished you never bought that stock or that you made a poor decision.

Worry not as you are not alone in this debacle. The worlds most popular investor, Warren Buffet also just recorded a whopping $712.9 million loss today alone. His loss in value was from his shareholding in IBM.

According to CNBC, the company’s shares fell $8.96 at Tuesday’s open after a mixed earnings report, costing the Oracle of Omaha some $712.9 million.

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His conglomerate Berkshire Hathaway owned 79.57 million shares of IBM as of March 31, according to the most recently available filings, making it one of his largest investments.

He is also IBM’s largest shareholder, with almost 20 million more shares than the next-biggest investor.

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Last October, IBM’s sharp drop after earnings wiped just over $1 billion off Berkshire’s books.

Rather than worry, Warren Buffet is actually bullish that the stock will pay off in the future. He in fact was said to have more shares in IBM earlier in the year. Warren Buffet is a value investor true and true and only sells when he is sure the company no longer meets his investment metrics and expectations. He doesn’t bother at all with the daily fluctuation of share prices and so this so called loss may just be lost on him.

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Can you be like him for once?

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