Warren Buffett’s Berkshire Hathaway investment firm took big hits this week. The Sage of Omaha took a $1 billion hit on Coke (KO) and lost $1.3 billion as his IBM stock took a dive. Buffett’s British grocery chain Tesco (TSCDY) also took a drastic drop this year, nearly 47%. But that won’t keep him from buying more.
The good news is Berkshire stock is up more than 17% this year. So, despite the recent market dip, investors are sticking with Buffett who continues to buy. “The more stocks go down, the more I like to buy,” Buffett said earlier this month.