While Warren Buffett has been known for his savvy investing chops for several decades – one boat he admits he missed was investing in e-commerce giant Amazon early.
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"Yeah, I've been a fan, and I've been an idiot for not buying" Amazon shares, Buffett told CNBC Thursday.
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However, the billionaire, who is widely known for not being the biggest fan of tech stocks, said that things have changed and one of his employees at Berkshire Hathaway has been buying shares of Amazon.
“One of the fellows in the office that manages money ... bought some Amazon so it will show up in the 13F” later this month, Buffett said.
The news of the investment comes as Berkshire’s annual shareholders' meeting in Omaha, Nebraska, kicks off on Friday.
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While Berkshire’s stock typically outperforms, the stock is up just 6.6 percent in 2019 compared to nearly 18 percent for the S&P 500.
Several of Buffett’s go-to stocks, including Coca-Cola, Wells Fargo, and Kraft Heinz have underperformed this year, while its 250 million shares of Apple have soared more than 30 percent.
| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| KO | COCA-COLA COMPANY | 48.84 | +0.46 | +0.94% |
| AAPL | APPLE INC. | 211.21 | +2.06 | +0.99% |
| KHC | KRAFT HEINZ COMPANY | 32.55 | +0.37 | +1.15% |
| WFC | WELLS FARGO & COMPANY | 48.57 | +0.27 | +0.56% |
Last year, Buffett told CNBC that Amazon has “far surpassed anything I would have dreamed it could have been done."
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“I had no idea that it had the potential. I blew it,” he said.
Additionally, last year Buffett announced a partnership with Amazon founder Jeff Bezos and JPMorgan Chase CEO Jamie Dimon to create a health venture called Haven to help companies lower health costs for their employees.
https://www.foxbusiness.com/features/warren-buffetts-berkshire-has-been-buying-amazon-shares
2019-05-03 14:23:37Z
52780282545353https://desimpul.blogspot.com/2019/05/warren-buffetts-berkshire-buying-amazon.html
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