Warren Buffett Made a Mistake With This Stock, but Could Investors Benefit?
Kraft Heinz's (NASDAQ: KHC) stock has gained traction while most other stocks have fallen in the bear market. Its role as a food stock and ability to draw sales amid inflation has boosted this long-suffering stock.
Moreover, Kraft Heinz has undoubtedly boosted Warren Buffett's Berkshire Hathaway portfolio as it is a stock in which he has long held a large position. However, it is also a stock Buffett has referred to as a mistake, and that means investors should take a closer look at the business and financials before following Buffett's lead.
Kraft Heinz has become a reminder that even Warren Buffett makes investing mistakes. In 2013, Buffett partnered with 3G Capital to buy Heinz for $23 billion. In 2015, he engineered a merger with Kraft Foods to form Kraft Heinz, introducing its stock at $71 per share.
Source Fool.com
