Tech

I regret not investing in Google, Amazon, Warren Buffet says

I regret not investing in Google, Amazon, Warren Buffet says

Warren Buffett admits he missed the boat on investing in two of today’s most successful tech companies: Google (GOOG) and Amazon (AMZN, Tech30). Both are among the largest companies in the world today.

Buffett said he should have known early on that Google was going places. He remembered that Berkshire subsidiary Geico was paying $10 or $11 to Google every time someone clicked on an ad.

He admitted to being amazed that the business was able to make additional money with no incremental cost. But he still didn’t buy the stock.

Read also: US Justice Department probes Uber over fake app

“I blew it,” he lamented, while speaking to tens of thousands of shareholders who had congregated in Omaha for Berkshire Hathaway (BRKA)’s annual shareholder on Saturday.

Buffett admitted he had the intel to understand Google’s potential for growth early on.

Along with Berkshire vice chairman Charlie Munger, Buffett roundly praised Amazon CEO Jeff Bezos and bemoaned never owning a share of his company.
Munger called Bezos “a different species.”

“I was too dumb to realize what was going to happen,” Buffett said. “I’ve admired Jeff, and I’ve admired him for a long, long time. But I did not think he was going to succeed on the scale that he has.”

Berkshire’s two major tech holdings are Apple (AAPL, Tech30) and IBM (IBM, Tech30).

 

 

RipplesNigeria ….without borders, without fears

Click here to download the Ripples Nigeria App for latest updates

 

Ripples Nigeria

We are an online newspaper, very passionate about Nigerian politics, business and their leaders. We dig deeper, without borders and without fears.
www.ripplesnigeria.com

Join the conversation

Opinions

About the author

Ripples Nigeria

We are an online newspaper, very passionate about Nigerian politics, business and their leaders. We dig deeper, without borders and without fears.
www.ripplesnigeria.com

Do NOT follow this link or you will be banned from the site!