SHOTS FIRED: ACKMAN GOES IN ON MUNGER’S OWNERSHIP OF COKE

This is just about the most ridiculous thing Bill Ackman has ever done, since trying to beat Dan Loeb in a bike race in Montauk, LI.

“I have a problem with Berkshire’s ownership of Coke,” Ackman told an audience of about 200 people. “Coca-Cola has probably done more to create obesity, diabetes on a global basis than any other company in the world.”

“I’m never one for avoiding controversy,” Ackman told the attendees, which didn’t include Buffett or Munger. “What is Coca Cola’s business model? Coca-Cola’s business model is to displace the water that children and adults consume with sugar water.”

Ackman went too far in his critique of the company, which also sells bottled water, milk and fruit juice, Kent Landers, a spokesman for Atlanta-based Coca-Cola, said in an e-mail. “These comments are irresponsible and do not recognize the current breadth of our business,” he wrote.

“You have some of the best marketing in the world and a lot of happy skinny people drinking it in the advertising,” Ackman said. “Unlike the tobacco companies, there’s no disclaimer on the Coke saying ‘replacing the water in your diet with Coca-Cola can cause harm.’ So when Charlie was saying Valeant is a deeply immoral company I would argue that.”

So, the answer to William Albert Ackman’s problems with his wrectched VRX position is to get into a pissing match with legendary Berkshire Hathaway investor, Charlie Munger, who, by the way, is 91 years old.

I thought I was bad for kicking old men into sewer pipes; but this is brutal.

Ackman is sounding awfully thirsty these days. Perhaps Charlie should mail him a bottle of coke.