Tech
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).
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JOHNSON PETER
May 7, 2017 at 9:42 pm
Is not too late, he can still invest in the two, he can even buy one of it after all, he has the money
seyi jelili
May 8, 2017 at 3:17 am
It’s very late for him as the shareholders won’t be stupid to sell something lucrative and lasting. Though they can still allow him to a stakeholder but with limitations
yanju omotodun
May 7, 2017 at 9:50 pm
But truly, goggle blows out big time. Ask Goggle is now the trend of the time, patience and resolute is the key
Animashaun Ayodeji
May 8, 2017 at 7:12 am
Google came faster than anyone would have thought, it was Yahoo!’s potentials everyone saw back then, but where’s yahoo Today? Salute to those who believed in Google before the company became very big
Anita Kingsley
May 8, 2017 at 7:10 am
Sorry buffet, you just didn’t see things the way they are today, you saw google and amazon from a different angle and felt safe not investing in them, there’s nothing to regret in following one’s instincts
Agbor Chris
May 8, 2017 at 7:14 am
Why is he now lamenting? A smart businessman looks at the future and potentials not what’s happening now now, Warren Buffet was dumb and he’s reaping the result of his dumbness. He should enjoy it