Warren Buffett has done it again. The billionaire, who (if you add Mrs. Buffett's account to his) has produced an even bigger nest egg than his friend Bill Gates, has moved a step nearer to cornering the world market in junk food.
In his annual letter to holders of his Berkshire Hathaway Inc. stock, the Sage of Omaha disclosed that McDonald's has now joined Coca Cola on the list of the holding company's principal investments. Buffett may be trying to line up snacks for his followers as they play Monopoly together. More likely, though, he is just up to his long-practiced bargain hunting. He may not have bought the stock at the new Big Mac price of 99 cents. But the hamburger chain's well-publicized marketing problems at home in America may have produced a bargain stock price even as golden arches continue to march profitably around the globe.
It's usually said that the Great Wall of China is the only manmade object visible from space. Right. But add Buffett's Midas touch to all those arches and astronauts may notice a few flecks of yellow on the blue planet.