Munger calls cannabis infused Coca-Cola a 'big mistake'

Channel: Fox Business
Published: 1 hours ago

Description
Berkshire Hathaway CEO Warren Buffett and Vice Chair Charlie Munger tell FBN’s Liz Claman that Coca-Cola shouldn’t venture into the marijuana business. FOX Business Network (FBN) is a financial news channel delivering real-time information across all platforms that impact both Main Street and W...



Transcript
The berkshire hathaway annual shareholder meeting is kicking off and liz claman just caught up with warren buffett and charlie munger, and she she's got some major breaking news for us liz. I have to tell you, charles you see that video of them in the golf cart. They usually do not make an appearance here this day before the annual shareholder meeting the largest in the world by the way, but we we ...
e able to catch up with them, just as they were going backstage to meet with all the managers of their some 90 companies And i had an opportunity to talk to them specifically we're here at coca-cola since we landed yesterday team countdown has spoken toa lot of people in omaha shareholders of coca-cola and berkshire hathaway, who of course, late last year, were not happy when coca-cola announced that it was Possibly talking about making a partnership with a cannabis or a cbd or marijuana type of company, because it's sort of the new nascent industry that's out there. I specifically asked warren and charlie about that listened to their response. If pope were to get into a cannabis or marijuana partnership, this person would sell their shares. We do. How would you feel what got into cannabis interstate yeah, but we would sell it. Why? Because they've got such a wholesome anti-aging cannabis doesn't some but there's something and everybody's mind in theworld by clay by coca-cola i mean they've got an awareness of a specific brand and it's almost unequal, the baby army. You know you can say coca-cola and 200 countries may know what you're talking about and and when they say it. When i say coca-cola, do you there's something in your mind and i'm not sure that you would want to muddy that image a little bit? Let us be clear: warren buffett and charlie munger think it would be a mistake for coca-cola to venture into anything marijuana related, even if it is sort of the hot new thing. We also spoke to him and just got this breaking news about attendance figures. He is expecting thatit may break last year's attendance figures of 42,000.

He won't know until people start streaming in the doors tomorrow, but you can see from these crowds here. It has gotten absolutely huge coming up at 3 p. m. eastern. Not only do we have a list of unbelievable guests, including the governor of nebraska, pete, ricketts and, of course, ron peltier, who is the ceo chair, executive, chairman, charles of the most largest residential real estate company in america, which warren buffett owns home services of america and Investor, mario gabelli, but much more of what we just got from warren buffett, including in just a few minutes the cash position right now at berkshire hathaway and it is onthe monster, we'll send it back to you and we'll see you at 3:00 p. m. eastern all right Liz can't wait to see it. Thank you very much.


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