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- Berkshire Hathaway has bought shares of Amazon, according to a CNBC report on Thursday.
- Warren Buffett, Berkshire’s chairman and CEO, did not directly purchase the Amazon shares himself.
- "Yeah, I’ve been a fan, and I’ve been an idiot for not buying," Buffett said according to CNBC, referring to Amazon shares. "But I want you to know it’s no personality changes taking place."
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Berkshire Hathaway is buying shares of Amazon, according to a CNBC report published Thursday.
Warren Buffett, Berkshire’s chairman and CEO, did not directly purchase Amazon shares himself.
The shares were purchased by "one of the fellows in the office that manage money," Buffett told CNBC, which said Buffett may have been referring to investment managers Todd Combs or Ted Weschler, both of whom manage hefty portfolios that contain Berkshire holdings.
But, for his part, Buffett expressed some regret for not acting sooner on the e-commerce giant.
"Yeah, I’ve been a fan, and I’ve been an idiot for not buying," Buffett said, referring to Amazon shares. "But I want you to know it’s no personality changes taking place."
Buffett reportedly made the comments a day before Berkshire Hathaway’s annual shareholders meeting in Omaha, Nebraska. Berkshire’s shares are expected to be revealed in asset disclosures to the Securities and Exchange Commission in May.
Buffett was generally known to be adverse to tech stocks. He has changed course in recent years and has made some glowing remarks about some of the stand-out tech companies.
"The truth is that I’ve watched Amazon from the start and I think what Jeff Bezos has done is something close to a miracle," Buffett said at the annual meeting in 2018. "And the problem is if I think something is going to be a miracle I tend not to bet on it."
"I have missed things that were within my circle, and that’s a terrible mistake," Buffett said in a Yahoo Finance interview on Wednesday. "Those are my biggest mistakes. You haven’t seen them. But … it’s not a mistake because I miss Netscape or something like that."
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Source: Business Insider – dchoi@businessinsider.com (David Choi)