At Berkshire Hathaway's annual shareholders meeting, Warren Buffett explains why he has been buying shares of Amazon
Not anymore. Buffett revealed on Thursday that Berkshire Hathaway has been buying Amazon shares, noting that the exact amount will be disclosed in Berkshire's quarterly report to the United States Securities and Exchange Commission later this month. "One of the fellows in the office that manage money ... bought some Amazon," Buffett said in an interview with CNBC. He was referring to Berkshire Hathaway's top investment managers Ted Weschler or Todd Combs, according to CNBC.
"Yeah, I've been a fan, and I've been an idiot for not buying" Amazon shares, Buffett told CNBC."But I want you to know it's no personality changes taking place."Last year, Buffett teamed up with Amazon and JPMorgan Chase to tackle the United States' soaring health care costs.Warren Buffett gets in the middle of oil bidding warBerkshire Hathaway has lagged the broader market this year. The stock is up just 6.
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