Buffett says he under- estimated Amazon, but is catching up quick
Warren Buffett has been buying Amazon shares, crediting two deputies at Berkshire Hathaway who have ‘younger eyes’
New York — Warren Buffett has said that he underestimated Amazons Jeff Bezos. Now one of Buffett’s deputies is willing to put money behind the tech giant. Berkshire Hathaway has been buying Amazon shares and the purchases will show up in a regulatory filing later this month, Buffett told CNBC in an interview on Thursday. Buffett, Berkshire’s chair and CEO, said “one of the fellows in the office that manage money” made the purchases, a reference to investment managers Todd Combs and Ted Weschler. Combs and Weschler have gained influence at Berkshire in recent years. Buffett credited some of his conglomerate’s purchases of airline stocks and Apple to the deputies and noted their involvement in helping Berkshire beyond their stock-picking duties. Buffett, 88, and long-time business partner, Charles Munger, 95, have praised the pair, with Munger saying they give Berkshire “younger eyes.” The Amazon stake further cements the relationship between Berkshire and Bezos’s company. Berkshire i...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.