Buffett’s Berkshire Hathaway invests in Amazon for the first time
Veteran investor says he was ‘an idiot for not buying before’
Investment marks a further shift away from Warren Buffett’s earlier policy of avoiding investing in technology companies. Photograph: AFP
In an interview with CNBC late on Thursday, Mr Buffett said he had not made the decision to invest himself, but one of his deputies at Berkshire Hathaway had decided to buy a stake, which would appear on a 13F form later this month.
The investment marks a further shift away from Mr Buffett’s earlier policy of avoiding investing in technology companies, which he had previously scorned on the basis he only invested in stocks he understood. He has moved away from this position in recent years, however, and is now the third-largest shareholder in iPhone-maker Apple.
He told CNBC he had been a “fan” of Amazon for some time and “an idiot for not buying” before. – Copyright The Financial Times Limited 2019