Buffett's Deere (DE) Bet is Still Solid, Even Amid Q4 Miss

Some speculation has been made whether Warren Buffett might be crying into his bowl of Sugar Smacks this morning following Deere's (NYSE: DE) quarterly miss, as reported earlier.

The answer, of course, is no. Buffett doesn't cry; doing so is neither profitable nor a good value.

Other than that, let's do a quick recap. Buffett's Berkshire (NYSE: BRK-A)(NYSE: BRK-B) disclosed a new stake in Deere, established sometime in the third quarter. Well, let's say Buffett waited until after Deere's third-quarter report in August, when shares dropped to $75.50 or so. With Deere at $85.99 as of Tuesday's close, Buffett is up 13.9 percent.

If Buffett got in before the report, Deere maxed out at $79.95 or so in mid-August, for appreciation of only 7.6 percent.

So, if Deere drops off 4 percent to 6 percent over the next couple of days following the report, that puts shares somewhere in the $81 to $82 range, making Buffett's bet still a good one.

He is the Oracle, after all.

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