قالب وردپرس درنا توس
Home / Business / Warren Buffett's Berkshire buys Amazon shares despite being late

Warren Buffett's Berkshire buys Amazon shares despite being late



While Warren Buffett has been known for his knowledgeable investor chops for decades – a boat he admits he missed, invested in early Amazon e-commerce.

"Yes, I've been a fan and I have been an idiot for not buying" Amazon shares, Buffett told CNBC Thursday.

MORE FROM FOX BUSINESS

However, the billionaire, known for not being the biggest tab of tech stocks, has changed things and one of his employees in Berkshire Hathaway has bought Amazon shares.

"One of the friends in the office who manages money … bought some Amazon, so it will appear in 1

3F" later this month, Buffett said

The news of the investment comes as Berkshire's annual shareholder meeting in Omaha, Nebraska, starts Friday.

While Berkshire's stock usually surpasses, the stock is only up 6.6 percent in 2019 compared to nearly 18 percent for S&P 500.

Several of Buffett's go-t shares, including Coca -Cola, Wells Fargo and Kraft Heinz have underperformed this year, while its 250 million Apple shares have increased more than 30 percent.

Ticker Safety Last Change [19659013]% Chg
CO [COCA-COLACOMPANY4881 + 0.42 + 0 , 87%
AAPL APPLE INC. 211.06 +1.91 [19659018] + 0.91%
KHC KRAFT HEINZ COMPANY 32.53 + 0.35 + 1.10%
WFC ] WELLS FARGO & COMPANY 48.59 + 0.29 + 0.60%

Last year, Buffett told CNBC that Amazon has "far exceeded everything I would have dreamed that it could have been done."

CLICK HERE TO INCREASE BUSINESS APP

"I had no idea it had the potential. I blew it, he said.

In addition, Buffett last year announced a partnership with Amazon founder Jeff Bezos and JPMorgan Chase, CEO Jamie Dimon, to create a health sciences called Haven to help companies reduce health care costs for their employees.


Source link