Tesco in crisis: City fears £250m profit debacle could be just the start | The Independent

Perhaps the biggest loser, however, has been Warren Buffett. The so-called Sage of Omaha has lost millions of pounds on his duff investment in Tesco.

His Berkshire Hathaway investment fund, which already held nearly 260 million Tesco shares, decided last October to take a big punt on the price rising.

Bloomberg data shows it spent £260m buying about 75 million more shares, only to see the price fall almost immediately. The fund sold about 20 million to narrow its losses but then in December decided to pile back in again, only to see the price continue to fall.

via Tesco in crisis: City fears £250m profit debacle could be just the start – Business News – Business – The Independent.

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