Getting your player ready...
Warren Buffett’s Berkshire Hathaway lowered its stake in Kraft Foods by 23 percent, or about 31.5 million shares, in the first quarter as the billionaire opposed the foodmaker’s takeover of Cadbury and the sale of its pizza brands.
“Both deals were dumb,” Buffett told Berkshire investors May 1 in Omaha, where his company held its annual shareholders meeting. “The pizza deal was particularly dumb.”
