Many trees have been killed to explain the investment style of Warren Buffett, but one element that hasn't received much attention is his predilection for the sweet.
"One of the more intriguing themes of Buffett's career has been his big bet on the enduring appeal of sugar,"
Gary Silverman writes in the Financial Times.
"Although his portfolio runs the gamut from banks and insurers to railroad, manufacturing and energy companies, it includes substantial holdings in candy, ice cream, chewing gum, soft drinks and the heavily sweetened condiment that is ketchup."
That includes See's Candies, Coca-Cola, Wrigley, Heinz and Dairy Queen.
That's obviously not a message for public health. "But Mr. Buffett has never really made it his business to change the world through new technologies, miracle cures or what have you," Silverman notes.
Buffett's public service comes in donating all of his fortune to charity. But his greatness as an investor "has been defined by his acceptance of the world as he has found it," Silverman says.
"He works within the context of the human condition, such as it is, and gives the people what they want, provided he feels that he can get away with it."
Meanwhile, Buffett himself offered colorful imagery to emphasize the importance of buying low and selling high in an interview last year with Quicken Loans executives.
"This imaginary person out there — Mr. Market — he's kind of a drunken psycho," Buffett said, according to the
Benzinga news service.
"Some days he gets very enthused, some days he gets very depressed. And when he gets really enthused, you sell to him, and if he gets depressed you buy from him. There's no moral taint attached to that.”
And how should we small fry approach investing?
"Pay no attention to headlines in the paper or people on television or anything, but put aside a little money each month," Buffett said.
"I'd put it in a very low-cost index fund. And if you do that regularly throughout your working career, you're bound to have a substantial amount of capital."
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