Buffett Watch: Holdings Getting Hammered

Buffett Watch: Holdings Getting Hammered
02/20/09 - 12:39 PM EST


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The Berkshire Hathaway (BRK.A Quote - Cramer on BRK.A - Stock Picks) investment debacle continues apace.
Berkshire lost another $500 million in American Express (AXP Quote - Cramer on AXP - Stock Picks) and Wells Fargo (WFC Quote - Cramer on WFC - Stock Picks) in the first 15 minutes of trading today, and this came on the heels of losing nearly $350 million in the two names around the lunch hour yesterday.
Moreover, the mark on Berkshire's $30 billion-plus derivative short put trade on the S&P 500 probably now exceeds $10 billion.
A billion here a billion there, and soon it's real money!
Finally, it is interesting to note that normally non-volatile stocks, such as Kraft (KFT Quote - Cramer on KFT - Stock Picks) and Constellation Energy Group (CEG Quote - Cramer on CEG - Stock Picks) are under pressure today.
The reason might be that they are large Berkshire Hathaway holdings and short sellers could be smelling blood.
Doug Kass writes daily for RealMoney Silver, a premium bundle service from TheStreet.com.

http://www.thestreet.com/story/10465204/1/buffett-watch-holdings-getting-hammered.html