Is it a sign of impending collapse? Financial savant Warren Buffett loses two billion in stock market

Warren Buffett, the man known for focusing on long-term investment performance as apposed to making the quick buck, has lost $2 million in investments.

LOS ANGELES, CA (Catholic Online) - Buffett owned Berkshire Hathaway investment house has large investments in both Coke and IBM, two companies that have not done well over the last couple days.

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Coke dropped 6% on October 21 after it reported that its projected earnings were not coming in and that it wasn't expecting to do much better in 2015. Buffett holds 400 million shares in the company, and lost $1 billion in the company.

On October 20, IBM lost Buffett $1.3 billion after its stock dropped 7%. Buffett holds nearly 70 million shares through his company, and IBM is about 13% off its expected path.

Buffett, who is looked up to by many, especially on the left, but throughout 2014 he has shown less of his financial renown. He invested in the British grocery chain Tesco, but that company has dropped nearly 47% in value this year.

However, investors are sticking with Buffett, at least so far. Berkshire's stock climbed a bit on October 20 and 21, and is up 17% from the start of this year.

While both IBM and Coke are hurting, the company Buffett has most heavily invested into, Wells Fargo, is up 11% so far this year.

Despite market dips, Buffett is purchasing stocks. During an interview early in October, he said that "the more stocks go down, the more I like to buy."

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