India, Nov. 2 -- Warren Buffett reportedly hasn't had water in 48 years. The billionaire investor made the surprising claim during a dinner conversation with fellow billionaire Bill Ackman, who had offered him a choice of still or sparkling water. Buffett, known for his love of Coca-Cola, apparently had a different drink in mind.

Ackman, founder and CEO of Pershing Square Capital Management, recalled the exchange on the Equity Mates Investing podcast. He said he had invited Buffett over for dinner several years ago and stocked up on Cherry Coke, knowing it was his guest's favourite drink.

During the meal, Ackman offered Buffett still or sparkling water. When he turned down both, Ackman asked whether he drank water at all.

"Bill, I have...