The emblematic investor of Wall Street celebrated the results of the company in which he invested for a long time. Which is it.
Warren Buffet ‘s investments are followed by all specialists due to the level of success he has in companies that give him revenue, but now news has been released that will boost the asset portfolio of the historic investor due to the good financial results that a company had.
The sharp rise in rates by the Federal Reserve posed a difficult outlook for stocks since many investors, due to the high returns generated by United States sovereign bonds and the low risk they show, turned their portfolios towards that asset.
The conflict that caused the fall of Silicon Valley Bank and later Credit Suisse also impacted prices due to the risk of a global banking crisis, but several weeks after this event there was good news for large companies.
Buffet has always been known for being a long-term investor and not for taking big risks in the short term, which is why his portfolio is made up of large international companies that ensure certain predictability when it comes to counting his profits.
Warren Buffett’s Favorite Company
The good news for this billionaire investor was that Coca Cola presented the financial results for the first quarter where it showed a higher profit than expected by analysts, where global price increases translated into higher revenue for the company.
According to the company, “it managed to offset the increase in costs without negatively affecting demand “, so the results of the first quarter of 2023 caused a rise in the price of shares that affected Buffet’s portfolio.
The company listed on the S&P 500 has a value of US$ 277 billion and this historic investor has 8.5% of his portfolio allocated to the shares of this soft drink company for many years due to the stability he manages at global level.
“We have the right portfolio, the right strategy and the right execution to secure our position in the market. We are confident that we can achieve our goals by 2023 ,” James Quincey, Chairman and CEO of The Coca-Cola Company, said after the results were released. financial.
Being a daily consumer good, the company was in the crosshairs to see if it could maintain the level of consumption despite a context of high inflation where people cut their expenses, but these results cleared up the doubt, at least in the last few years. first months of the year.
