Berkshire Hathaway is Buying up Amazon Shares, Before Its Annual Stockholders Meeting

Ann Santiago
Мая 5, 2019

But that unsuccessful investment did not stop the company from becoming one of the biggest in the world, with a market value of more than $500 billion and with almost 400,000 employees. Buffett has pointed to Apple's strong profitability as one of the reasons to bet on the company. Amazon's closing price on Thursday, ahead of this disclosure, was $1,900.82, and the shares were up nearly 2% at $1,938 shortly after the opening bell on Friday.

According to a CNBC report on Thursday, Buffett said that someone at Berkshire's asset management desk just invested in some Amazon shares, but "it wasn't me".

The Omaha, Nebraska-based conglomerate repurchased $1.7 billion of shares as the stock dipped in the first quarter.

Buffett and Berkshire Vice Chairman Charlie Munger will share their views on the current development of the company, the stock market, the global economy - among others - during the shareholders' meeting, which investors and non-investors alike are paying close attention to.

Buffett, 88, and long-time business partner, Charles Munger, 95, have praised the pair, with Munger saying they give Berkshire "younger eyes".

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Buffett's assistants did not immediately respond to a message seeking comment.

Buffet further added, "Yeah, I've been a fan, and I've been an idiot for not buying" [Amazon shares.] "But I want you to know it's no personality changes taking place".

Buffett is 89 years old and has owned Berkshire Hathaway shares for 57 years, but the "Oracle of Omaha" shows no signs of slowing down. One exception was International Business Machines Corp.

Then in 2016, Berkshire Hathaway jumped into Apple and has built its stake in the iPhone maker into a holding valued at more than US$50 billion. His US$10 billion investment in the computer giant in 2011 was a curiosity for Berkshire Hathaway and it did not end well. Berkshire Hathaway is known for its value investments.

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