CNBC viewers and participants at the Delivery Alpha conference yesterday had a ring side view on the storied rivalry between the camp followers of American beverage majors PepsiCo, Inc. (NYSE:PEP) and The Coca-Cola Company (NYSE:KO) when Nelson Peltz who is the founder and the chief executive officer of Trian Fund Management took objection to the fact that interviewers at CNBC were seeking investor tips on PepsiCo, Inc. (NYSE:PEP) stock from investment guru Warren Buffett.
The audience chuckled when Nelson Peltz who owns a significant chunk of stock in PepsiCo, Inc. (NYSE:PEP) questioned gruffly the propriety of interviewers at CNBC seeking the Warren Buffet’s views on holding shares of PepsiCo, Inc. (NYSE:PEP), overlooking the fact that Mr. Buffett is one of the largest individual and long time investors in The Coca-Cola Company (NYSE:KO).
Mr. Peltz took CNBC interviewer Andrew to task for “twice seeking Mr Buffett advice to share holders of PepsiCo, Inc. (NYSE:PEP)” and “then never telling the audience that he (Buffett) is the largest share holder in Coke, and you never told the audience that he’s been on the board forever and his son’s on the board right now”.
Mr. Peltz then compared the lack of disclosure about Mr Buffett interest in rival The Coca-Cola Company (NYSE:KO) during CNBC interviews with various analysts who commented on company stock, disclosing to their viewers and readers any existing interests in the stock that they or their family members hold.
Mr. Peltz concluded by sarcastically commenting that: “I want you all to know that, next time you get Pepsi advice from the largest shareholder of Coke.”